Tether transferred 204.3 BTC (valued at approximately $14.36 million) from its Bitcoin reserve wallet to exchange Bitfinex, according to on-chain monitoring by EmberCN. The stablecoin issuer's reserve wallet retains 96,936 BTC worth $6.72 billion, part of a strategic accumulation program initiated in 2023 using 15% of company profits.
The move comes as Tether maintains an average acquisition price of approximately $51,300 per bitcoin, generating $1.75 billion in unrealized gains on its current holdings. The transfer to Bitfinex, a major exchange where Tether maintains operational presence, does not necessarily signal a liquidation strategy, as the company regularly moves assets for operational and liquidity management purposes.
Tether's sustained Bitcoin purchases represent one of the largest corporate accumulation strategies in the sector, positioning the company as a significant institutional holder alongside MicroStrategy and recently active traditional finance players. The timing of this transfer occurs amid broader institutional interest in Bitcoin as digital asset adoption accelerates.