Tether – the issuer of the USDT stablecoin — has added more than $1 billion to its bitcoin holdings, according to Arkham data. On Sept. 30 — the last day of Q3 2025 — the firm acquired 8,888.88 BTC.
This is the company’s second major acquisition for 2025 — the previous similar purchase took place on March 31. At the time of writing, Tether owns 86,335 BTC. The total value of the first cryptocurrency on the firm’s balance sheet exceeds $9.75 billion.
However, according to BitInfoCharts, 14,000 BTC was withdrawn from the Tether wallet in June and another 1,200 BTC in July.
Financial analyst and CEO of SwanDesk Jacob King said that, in his opinion, 80-90% of all bitcoin purchases are fictitious, because Tether is “printing money out of thin air,” pouring it into bitcoin and inflating the biggest bubble in history, while the real value of bitcoin, according to him, is much lower than even $1,000.
Note that the company has not officially confirmed which addresses it controls. However, in August 2023, 21.co analyst Tom Wang pointed to a likely wallet, and The Block’s source familiar with the situation confirmed that Tether is among the top 15 largest BTC hodlers.
As a reminder, in October 2024, Tether CEO Paolo Ardoino said at the Plan B forum that the company holds 82,454 BTC in its financial reserves. At the time of writing, the first cryptocurrency is trading above $113,000:
Note that September 2025 was a record month for Tether: the company issued 9 billion USDT.