The post Tether Bitcoin Reserves Surge Following $705 Million Deposit appeared on BitcoinEthereumNews.com.

Tether Bitcoin reserves surge after a $705 million deposit. It expands investments into new sectors like agriculture and renewable energy. Tether has recently received a large Bitcoin deposit of 7,629 BTC, worth approximately $705.25 million. After about nine months of inactivity, this deposit was made by Bitfinex. At present, Tether’s Bitcoin reserves hold a total of 82,983 BTC, worth $2,99 billion. On average, these coins cost about $36,125 per BTC. With the current market price, the total value of these reserves comes to $7.68 billion. Tether’s Bitcoin wallets received two separate transfers on December 30, according to Arkham Intelligence. The large one was 7,628.9 BTC, the other 775.6 BTC. The number of these transactions added up to just under 8,404.5 BTC collectively. This proves that Tether Bitcoin reserves are still rising — and it has already total a big stake. U.S. Treasury bonds or similar cash equivalent assets back most USDT. This yield is then invested in different sectors. Also, Tether invested in new industries like artificial intelligence (AI), Bitcoin mining and decentralized communications. Some of these investments helped Tether to diversify its holdings and have returned more. Tether Broadens Portfolio with Investments in Bitcoin Cash and New Sectors Tether also expanded its investment strategy in 2024. The company started investing in renewable energy and telecommunications. Moreover, Tether plans to invest into Bitcoin Cash and other cryptocurrencies is in order to extend its investment portfolio. Also in September 2024, Tether made a big move off tech and blockchain, putting some money in Argentinian agriculture. In addition, it spent $100 million to buy a 9.8% stake in Adecoagro, an agriculture conglomerate. Tether’s edge into new sectors beyond its already solid focus was a massive marker. The long-term growth focus of Tether’s broad investment strategy. The company is not only limited to…

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Filed under: News - @ December 31, 2024 12:27 pm