Tether Expands Bitcoin Holdings, Becomes Fifth-Largest BTC Wallet

Tether has acquired an additional 8,888 Bitcoin (BTC) on New Year’s Eve, bringing its total holdings to over 96,000 BTC, according to CEO Paolo Ardoino. This move solidifies Tether’s position as the fifth-largest Bitcoin wallet, trailing only Binance, Robinhood, and Bitfinex. The company is also ranked second among privately held corporate BTC treasuries.

This acquisition is part of Tether’s strategy of quarterly Bitcoin purchases, utilizing up to 15% of its quarterly earnings. The latest purchase was valued at approximately $780 million.

Tether’s Gold and Reserve Strategy

In addition to Bitcoin, Tether has increased its gold reserves, purchasing 26 tons in Q3 2025, placing it among the top 30 gold holders globally. The mix of US Treasurys, Bitcoin, and gold has attracted scrutiny from ratings agencies, with S&P downgrading USDT due to transparency and concentration risks. Former BitMEX CEO Arthur Hayes has raised concerns about the growing proportion of Bitcoin and gold in Tether’s reserves.

Tether’s Bitcoin holdings have fluctuated throughout the year, leading to speculation about potential sales. However, CEO Ardoino has denied these claims, attributing changes to investments in "XXI," a Tether-backed company. As of New Year’s Day, Twenty One Capital, associated with Tether, held 43,514 BTC, ranking it third among public companies.

Corporate Bitcoin Acquisitions

The end-of-year Bitcoin acquisition trend continues with Japan-listed Metaplanet adding 4,279 BTC, bringing its total to 35,102 BTC. Strategy, another major player, has raised funds to expand its Bitcoin holdings to over 670,000 BTC, maintaining its position as the largest corporate Bitcoin treasury.