Tether, the leading stablecoin issuer, has expanded its Bitcoin reserves with a recent acquisition of 8,889 BTC, bringing its total holdings to over 75,000 BTC, worth more than $5.3 billion. The transaction, received from Bitfinex's hot wallet on March 31, 2024, strengthens Tether's position as the seventh-largest Bitcoin address globally. This move underscores Tether's strategy of allocating up to 15% of corporate profits from excess stablecoin reserves into Bitcoin. Tether CEO Paulo Ardoino stated, “The decision to invest in Bitcoin, the world’s first and largest cryptocurrency, is underpinned by its strength and potential as an investment asset."