Tether Adds Bitcoin Reserves Of IDR 11.34 Trillion

USDT stablecoin. (Photo; Doc. KryptoMoney)

JAKARTA - Tether, the world's largest stablecoin publishing company, added Bitcoin to the company's reserve fund. On December 30, 2024, Tether transferred 7,629 BTC worth about $700 million to its Bitcoin reserve address. According to BeinCrypto report, Monday, December 30, this transaction came from Bitfinex's crypto wallet.

This action is the largest transfer to Bitcoin Tether's strategic reserves since March 2024, at that time the company moved 8,888.88 BTC. It did not stop there, on December 31, 2024 Tether made a similar transfer.

Based on on-chain data from Arkham. Currently, Tether's Bitcoin reserves are recorded at 82,983 BTC, which is obtained with a total value of 2.99 billion US dollars (Rp 48.44 trillion) at an average price of around 36,125 US dollars (Rp 585 million) per coin.

This addition is in line with Tether's policy since 2023 to allocate up to 15% of its profits into Bitcoin. To date, the company holds more than 7.6 billion US dollars (Rp123.12 trillion) in the form of BTC as part of a diversified strategy amid a surge in USDT issuance.

Tether's flagship stablecoin, USDT, remains supported by US government bonds and cash equivalent assets. Investment proceeds from these assets have funded Tether's expansion into new sectors such as artificial intelligence, Bitcoin mining, and decentralized communications. By 2024, the company is also starting to explore renewable energy and telecommunications, reflecting its growing investment focus.

Obstacled Regulations

Tether recorded significant financial success in 2024, with total assets reaching 134.4 billion US dollars (Rp2,177 trillion) in the third quarter, including 120 billion USDT (worth Rp1,944 trillion) in circulation. On December 6, 2024, Tether scored an additional 2 billion USDT. The print added a total of 19 USDT billion since last November.

On the other hand, Tether is facing regulatory-related problems in the European Union as MiCA rules apply. Several exchanges in the region have removed USDT listings in preparation for new regulations. In addition, the company stopped issuing euro-based stablecoins, EURT, and gave its holders one year to redeem their assets.