As 2025 came to a close, Tether made headlines by acquiring 8,888 Bitcoins (BTC) on New Year's Eve, bringing its total Bitcoin holdings to over 96,000 BTC. This move solidifies Tether's position as one of the most significant Bitcoin holders, now ranking as the fifth-largest Bitcoin wallet globally. The USDt (USDT) stablecoin issuer now trails only Binance, Robinhood, and Bitfinex in Bitcoin holdings, and it ranks second in the list of privately-held corporate BTC treasuries.
This acquisition is part of Tether's ongoing strategy of quarterly Bitcoin purchases, where the company allocates up to 15% of its earnings to acquire Bitcoin every three months. The latest acquisition, valued at approximately $780 million at the time, underscores Tether's commitment to expanding its Bitcoin reserves, according to CEO Paolo Ardoino. BitInfoCharts data confirms Tether's position as the fifth-largest BTC holder.
In addition to Bitcoin, Tether has diversified its asset portfolio with significant gold investments. In the third quarter of 2025, Tether acquired 26 tons of gold, surpassing the purchases of any single central bank during that period, and bringing its total gold reserves to 116 tons. This places Tether among the top 30 global gold holders.
The company's asset strategy, which includes US Treasurys, Bitcoin, and gold, has drawn attention from ratings agencies. S&P recently downgraded USDT's rating from "constrained" to "weak," citing transparency and concentration risks. Former BitMEX CEO Arthur Hayes has also expressed concerns about Tether's increasing reserves in Bitcoin and gold.
Despite fluctuations in its Bitcoin holdings, which at times have dropped below 100,000 BTC, Tether maintains that it has not been selling off its Bitcoin. CEO Ardoino clarified that any changes in holdings are related to contributions to "XXI," a Tether-backed firm. As of New Year's Day, Twenty One Capital, associated with Tether, held 43,514 BTC, making it the third-largest Bitcoin holder among public companies behind Mara Holdings and Strategy.
The year-end Bitcoin acquisition by Tether is part of a broader trend of corporate Bitcoin accumulation. Japan-listed Metaplanet recently added 4,279 BTC to its treasury, bringing its total to 35,102 BTC. Meanwhile, Strategy continues to enhance its position as the largest corporate Bitcoin holder, with its stash now exceeding 670,000 BTC.