Tether purchases 8888 BTC worth $735 million again in Q1

According to on chain analyst Yu Jin's monitoring, USDT issuer Tether purchased 8888 BTC ($735 million) in the first quarter of this year: On the first day of the first quarter, Tether's address for purchasing and reserving BTC raised 8888 BTC from Bitfinex. This is the BTC purchased by Tether in the first quarter of this year: Tether announced in May 2023 that it will regularly use 15% of its company profits to purchase Bitcoin to enhance its reserves. Tether currently holds a total of 92647 BTC ($7.64 billion), making it the 6th largest BTC wallet address. Their BTC comprehensive purchase cost is about $41147, and currently their floating profit is as high as $3.83 billion.