The USDT issuer quietly moved $70.5 million in Bitcoin from Bitfinex into its dedicated reserve wallet, cementing its place as the second-largest private corporate BTC holder in the world.
| BTC added | Transfer value | Total holdings | Reserve value |
| 951 | $70.5M | 97,141 | $7.2B |
| Apr 15, 2026 | at ~$74,000/BTC | BTC reserve balance | ~$2.18B unrealised gain |
The transaction
Tether, issuer of the world’s largest stablecoin USDT, transferred 951 BTC from a Bitfinex hot wallet into its Bitcoin reserve address on April 15, 2026.
The move was flagged by on-chain analyst EmberCN and confirmed through address labeling by Arkham Intelligence.
Tether and Bitfinex share the same parent company, making this an internal transfer from exchange hot storage to cold reserve custody.
The destination wallet now holds 97,141 BTC worth approximately $7.2 billion at current prices.
It ranks as the fifth-largest Bitcoin wallet globally and the second-largest among private corporate entities, trailing only Strategy (formerly MicroStrategy).
The accumulation strategy
The purchase stems from a policy Tether announced in May 2023.
Under that framework, the company allocates up to 15% of its quarterly net realized operating profits toward Bitcoin purchases.
Tether funds these buys from stablecoin operating revenues not from outside capital raises.
The April 15 transfer is smaller than Tether’s typical quarter-end additions. On January 1, 2026, the firm moved 8,888.8 BTC worth roughly $778 million to close out Q4 2025.
A similar 961 BTC transfer occurred on November 7, 2025. The latest move appears to represent a mid-quarter top-up rather than a full quarterly allocation.
“Bitcoin and gold are assets that will outlast fiat currencies.” — Paolo Ardoino, CEO of Tether
Balance sheet context
Tether’s Q1 2026 reserves report showed total assets of $149.27 billion against liabilities of $143.68 billion, leaving excess reserves near $5.59 billion.
The Bitcoin position is held as surplus reserve; it does not back circulating USDT on a 1:1 basis. More than $185 billion in USDT is currently in circulation.
The bulk of Tether’s reserves remain in cash equivalents and U.S. Treasuries, with up to $141 billion in government debt exposure.
Tether also holds $17.4 billion in gold. Its average Bitcoin purchase price sits near $51,312 per coin, putting unrealised gains at roughly $2.175 billion.
The company has not sold from the reserve since the program began.
Tether reported more than $10 billion in net profit for 2025.
It has also engaged KPMG for its first independent financial statement audit, a milestone that adds a new layer of scrutiny to what has historically been a lightly regulated operation.
Market significance
Tether’s purchases are tied to profit cycles and often occur during price dips or near quarter-end dates.
The April 15 transfer came as Bitcoin traded near $74,000, a day after hitting a record $76,120.
The Fear and Greed Index sat at 23 firmly in “Extreme Fear” territory signalling that Tether is buying into market weakness rather than chasing momentum.
Analysts expect accumulation to continue through 2026 so long as Tether remains profitable. No ceiling has been announced on the program.
Each purchase is publicly traceable through blockchain explorers and third-party address labeling making Tether’s treasury moves among the most transparent in the corporate Bitcoin space.
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