TechFlow News: On April 16, blockchain analyst Ember (@EmberCN) reported that Tether’s BTC reserve address recently withdrew 951 BTC—valued at approximately $70.47 million—from Bitfinex. These BTC were purchased by Tether in Q1 2024 using 15% of the company’s quarterly profits. As of now, Tether’s BTC reserve address holds a total of 97,141 BTC, valued at roughly $7.2 billion, making it the world’s fifth-largest BTC wallet. Based on the price at the time of withdrawal, its average acquisition cost is approximately $51,312 per BTC, yielding an unrealized profit of about $2.175 billion.
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