BTC Price Index and Live Chart – CoinDesk”>(BTC) holdings at the end of the fourth quarter, buying 8,888 more BTC for $380 million, The Block reported.

According to Dune Analytics’ ranking, an account linked with the company has bitcoin holdings of 66.465. This makes the company the 11th largest holder.

In an effort to shift away from cash and cash-like assets such as U.S. Treasury bonds backing its USDT stablecoin, Tether <a href="https://www.coindesk.com/business/2023/05/17/tether-says-it-will-buy-bitcoin-for-stablecoin-reserves-using-realized-profits/#:~:text=Tether%20said%20it%20will%20allocate,tokens%20to%20the%20reserve%20surplus. In May 2023, Tether announced that it would begin allocating up to 15% of its profits towards bitcoin. USDT has the largest market capitalization in stablecoins with more than $95 billion.

Tether’s latest attestation reports shows that it holds $72.6 billion of government bonds, $1.7 billion bitcoin and other assets.

Cantor Fitzgerald CEO Howard Lutnick reassured this week that the company’s holdings were legitimate.

The Swiss-based company purchased its first bitcoin in September 2022.

Stephen Alpher edited the book.