Tether adds $70 million in bitcoin to reserves, bringing holdings above 97,000 BTC

The USDT stablecoin issuer has now accumulated over $7.1 billion in bitcoin as part of its strategy to recycle up 15% of its profit into BTC. What to know : Tether has added another $70 million in bitcoin to its reserves, bringing its holdings to 97,141 BTC worth about $7.16 billion, blockchain data shows. The company has been steadily buying bitcoin under a 2023 policy to allocate up to 15% of realized operating profits into the cryptocurrency. Tether reported $10 billion in profits for $10 billion and is also diversifying into gold and other alternative assets.