Source: Cointelegraph Original: "{title}"
According to on-chain data, Tether, the issuer of the USDT stablecoin, increased its holdings by 8,888 Bitcoin (BTC) in the first quarter of 2025.
On-chain transaction data shows that Tether transferred these newly acquired Bitcoins (valued at approximately $750 million at the time of writing) from a Bitfinex address to a wallet under its control. On-chain analysis platform Arkham Intelligence indicates that Tether currently holds 100,521 Bitcoins, with a total value of approximately $8.46 billion.
Tether's Bitcoin holdings chart. Source: Arkham Intelligence
Earlier in mid-February, reports suggested that Tether might be forced to sell part of its Bitcoin holdings due to proposed regulatory legislation in the United States. A report from JP Morgan noted that potential stablecoin regulatory legislation could classify a portion of Tether's existing reserves as non-compliant assets:
"Under the proposed legislation, Tether would be required to indirectly replace its non-compliant assets with compliant ones. […] This means they may need to sell non-compliant assets (such as precious metals, Bitcoin, commercial paper, and secured loans)."
Despite this, Tether disagreed with the conclusions of JP Morgan analysts. A Tether spokesperson criticized these analyses in a letter sent to Cointelegraph, stating that "they understand neither Bitcoin nor Tether" and emphasized that U.S. stablecoin-related laws have not yet been finalized.
Tether reported a profit of $13 billion in 2024, giving it substantial capital reserves to invest in large-scale projects. Thanks to this explosive growth, the stablecoin issuer became the seventh-largest buyer of U.S. Treasury bonds globally, surpassing economies such as Canada, Taiwan, Mexico, Norway, and Hong Kong.
As of the end of March, Tether invested €10 million (approximately $10.8 million) to acquire shares in the Italian media company Be Water. In February of this year, the company acquired a majority stake in the Serie A football club Juventus FC in Turin, Italy, and plans to acquire a majority stake in the South American agricultural company Adecoagro.
These investments have already shown their impact. For example, after receiving a $775 million investment from Tether at the end of 2024, the video platform Rumble recently announced the launch of a wallet feature supporting USDT payments for content creators.
According to CoinMarketCap, Tether's USDT is the leading stablecoin globally and the third-largest digital asset by market capitalization. As of the time of writing, the total supply of USDT is slightly below 148 billion.
Ignoring the slight deviation in value from the U.S. dollar, this supply has a market capitalization close to $148 billion. According to Whale Alert data, Tether minted an additional $1 billion worth of USDT on the Tron blockchain on March 31.
USDT minting, burning, and Bitcoin price trends. Source: Whale Alert
Historical data shows that Bitcoin prices tend to rise after an increase in USDT minting, and large-scale USDT minting usually occurs after significant increases in Bitcoin prices. David Pakman, managing partner at crypto investment firm CoinFund, recently stated that by the end of 2025, the global supply of stablecoins could surge to $1 trillion, which may become a key catalyst for broader cryptocurrency market growth.
Related: Coinbase CEO calls for stablecoin regulation changes to enable "on-chain interest"
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