Tether reserve wallet withdraws 951 BTC from Bitfinex

A Bitcoin reserve address belonging to Tether withdrew 951 BTC, worth $70.47 million, from Bitfinex about 15 minutes ago, EmberCN reported. The transaction is believed to represent Tether's purchase for the first quarter. Since 2023, the wallet has been used to buy BTC with 15% of the company's profits. The wallet now holds 97,141 BTC, making it the fifth-largest Bitcoin wallet in the world. Based on the price at the time of withdrawal, Tether's average purchase price for its BTC is $51,312, resulting in an unrealized profit of approximately $2.175 billion.