Tether, the leading $140 billion USDT stablecoin issuer, has increased its Bitcoin holdings by $700 million.

Tether added 7,629 BTC (Bitcoin) transferred nearly $700 million USD to its company's cryptocurrency reserve address on December 30, according to the transaction. Data From the provider of insights into the Arkham series.

the (USDT) The stablecoin operator now owns 82,983 Bitcoin, worth $7.7 billion at current Bitcoin prices of $92,300. It also owns $6 billion of its USD stablecoin and less than $300 million of its other stablecoins and Crypto.com's CRO token.

In May 2023, Tether announced that it would begin purchasing Bitcoin to diversify its portfolio and revenue sources. The company also accumulates BTC through its mining operations. As of press time, CEO Paolo Ardoino had not confirmed whether the latest addition to Bitcoin was purchased directly or generated from his own mining business.

Paolo Ardoino, the company's CEO, has expressed his ambitions to venture into other technology sectors, including artificial intelligence and energy. According to a previous report, Tether can bring Some of its AI plans will come to fruition by early 2025. The British Virgin Island-listed company also backs AI startup Northern Data Group and other technology-focused entities.