Tether becomes seventh largest Bitcoin holder

Tether, the world’s largest issuer of stablecoin USDT, invested USD 618 million in Bitcoin and acquired 8,889 units of the digital currency.

The transaction increases Tether’s total Bitcoin holdings to more than 75,000 BTC, making it the seventh largest holder of Bitcoin in the world.

The investment was driven by the approval of a U.S. spot Bitcoin exchange-traded fund and expectations for the Bitcoin halving event, which is scheduled to see block issuance cut in half later this month, increasing institutional investor interest in Bitcoin. It took place amid rising waves.

Beyond cryptocurrency ventures, Tether is expanding its technological horizons.

The company is committed to researching AI technology with the ambition to create open-source, multimodal AI models that can redefine industry standards and foster innovation and accessibility in the AI ​​field.

Tether’s USDT recently reached a new milestone of USD 100 billion market capitalization, becoming the first stablecoin to reach this goal.

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