On New Year’s Eve, Tether acquired 8,888 Bitcoin (BTC), raising its publicly disclosed Bitcoin reserve to over 96,000 by the end of 2025, as reported by CEO Paolo Ardoino.
The issuer of the USDt (USDT) stablecoin has emerged as one of the largest active Bitcoin holders, positioning its Bitcoin address as the fifth-largest, trailing behind Binance, Robinhood, and Bitfinex, and ranking second among privately owned corporate BTC treasuries.
The recent acquisition aligns with Tether’s ongoing strategy of quarterly Bitcoin acquisitions. The company has been investing up to 15% of its profits into Bitcoin every three months, with the latest purchase valued at approximately $780 million.
Related: Tether Gold benefits from bullion surge as central banks and ETFs increase their holdings
Tether’s mix of gold and reserves
In addition to Bitcoin, Tether has diversified its asset portfolio by acquiring 26 tons of gold in Q3 2025, marking the largest quarterly purchase by any reporting central bank, elevating its total holdings to 116 tons, positioning it among the world’s top 30 gold holders.
This combination of US Treasurys, Bitcoin, and gold has attracted the attention of ratings agencies and analysts, with S&P recently downgrading USDT’s rating from “constrained” to “weak,” citing concerns about transparency and concentration risks. Former BitMEX CEO Arthur Hayes raised alarms regarding the increasing reliance on Bitcoin and gold in their reserves.
Tether’s Bitcoin reserves have seen fluctuations throughout the year. Following its initial quarter purchase, it held over 100,000 BTC, leading analysts to speculate whether the company was selling Bitcoin.
Nonetheless, Ardoino refuted these assertions, explaining that it had contributed to “XXI,” a Tether-backed enterprise.
As of New Year’s Day, Twenty One Capital held 43,514 BTC, ranking it as the third-largest Bitcoin holder among public companies, following Mara Holdings and Strategy.
Related: DWF Labs’ physical gold trading indicates a shift of crypto capital into commodities
Corporate Bitcoin acquisition frenzy
The year-end Bitcoin acquisition coincides with a larger trend of corporate interest in Bitcoin. Metaplanet, listed in Japan, added another 4,279 BTC this past Tuesday, bringing its total treasury to 35,102 BTC.
Strategy has also continued to secure equity and debt to bolster its already sprawling corporate Bitcoin treasury, surpassing 670,000 BTC.
