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On April 15, 2026, Tether moved 951 BTC—worth roughly $70.5 million—out of a Bitfinex hot wallet and into a Tether-labeled bitcoin reserve address, according to onchain data flagged by blockchain explorers.
The transfer reflects a recurring internal process that has been in place since 2023, when Tether announced a policy to allocate up to 15% of quarterly net realized operating profits toward bitcoin purchases. Tether and Bitfinex share the same parent company, and the move is described as an internal shift from an exchange hot wallet to a reserve address, likely for security and accounting purposes.
Following the April 15 transaction, Tether’s reserve holds 97,141 BTC. At prices near $74,000 per coin, the reserve’s market value is estimated at more than $7.1 billion. Tether has reported unrealized gains of approximately $2.175 billion on the position and has never sold from the reserve since the program began.
The April 15 transfer was smaller than Tether’s typical quarterly purchases. On Jan. 1, 2026, Tether moved 8,888.8 BTC worth roughly $778 million to close out the fourth quarter of 2025. A similar 961 BTC transfer occurred on Nov. 7, 2025, making the April 15 movement consistent with periodic mid-quarter top-ups.
Tether’s CEO, Paolo Ardoino, has described bitcoin and gold as assets intended to outlast fiat currencies. The company holds bitcoin as surplus reserve rather than backing circulating USDT supply on a 1:1 basis. The bulk of Tether’s reserves remain in cash equivalents and U.S. Treasuries.
With more than $185 billion in USDT currently in circulation, the bitcoin reserve represents a meaningful but minority share of Tether’s total assets. Tether frames the position as a hedge against inflation and currency devaluation.
Tether’s reserve address ranks as the fifth largest single bitcoin address tracked globally, behind some exchange wallets and government-held addresses. The quarterly buying rhythm is publicly verifiable through blockchain explorers, which allow users to search Tether-labeled addresses and confirm inflow history.
The Sep. 30, 2025 purchase totaled approximately 8,888 BTC and was valued near $1 billion at the time, reinforcing the pattern of profit-cycle-linked accumulation rather than purchases during speculative price surges.
Separately, a report said Tether has engaged KPMG to conduct its first-ever full independent financial audit of USDT reserves.

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