Svmuu News According to on-chain analyst Yu Jian, the Bitcoin reserve address of USDT issuer Tether withdrew 951 BTC (worth $70.47 million) from Bitfinex 15 minutes ago. This is likely the BTC they purchased in the first quarter of this year. The BTC held in this wallet was purchased using 15% of the company's profits since 2023. They often withdraw the BTC purchased in the previous quarter from Bitfinex within a few days after the end of each quarter.
Currently, Tether's Bitcoin reserve address holds 97,141 BTC (worth $7.2 billion), making it the fifth-largest BTC wallet. Based on the price at the time of withdrawal from Bitfinex, the average purchase price of these BTC is approximately $51,312, resulting in an unrealized profit of $2.175 billion.