Tether started 2026 by adding 8,888.88 BTC to its treasury portfolio as part of its Q4 2025 profit split, according to CEO Paolo Ardoino.
The transfer, worth about $780 million at current prices, reinforces a strategy that has quietly made the world’s largest stablecoin issuer into one of the largest companies holding Bitcoin.
The purchase follows a policy introduced by Tether in 2023 to allocate up to 15% of its realized quarterly operating profits to bitcoin purchases, transforming the company into a systematic accumulator rather than an opportunistic buyer.
These accumulations are important because Tether’s profits are directly linked to the liquidity-like assets supporting USDT, primarily short-term US Treasuries and repos. This means that higher rates and strong demand for stablecoins can translate into more operating profits and, by extension, more bitcoin purchases.
Unlike corporate buyers who raise capital specifically to buy BTC, Tether’s approach is closer to an internal treasury strategy.
It uses its excess profits to diversify its reserves without touching the assets that support its stable liabilities, while retaining the bulk of its support in highly liquid instruments.
The timing is also remarkable. Bitcoin struggled to maintain its rise through the end of the year, with liquidity dwindling across locations and risk appetite uneven.
BTC was trading around $89,000 as of noon Hong Kong time.
