- Tether added 8,888.8888 BTC in Q4 2025 through on-chain transfers, boosting its Bitcoin reserves close to 96,200 BTC.
- The reserve wallet now ranks as the fifth-largest globally, with holdings valued around $8.42B and large unrealized gains.
- Purchases followed Tether’s policy of allocating up to 15% of operating profits to Bitcoin accumulation each quarter.
Tether disclosed that it added 8,888.8888888 Bitcoin during the fourth quarter of 2025, according to CEO Paolo Ardoino. The accumulation occurred across November 2025 and early January 2026 through on-chain transfers. Blockchain data shows the purchases increased Tether’s Bitcoin reserves to 96,185 BTC, valued near $8.42 billion.
Q4 Bitcoin Purchases and On-Chain Transfers
According to Paolo Ardoino, Tether acquired 8,888.8888888 BTC during Q4 2025. However, blockchain monitoring firm EmberCN provided a broader estimate. EmberCN said Tether likely purchased about 9,850 BTC, worth roughly $876 million, during the quarter.
The estimate reflects two major transfers. On November 7, 2025, Tether withdrew 961 BTC, valued near $97.18 million, from Bitfinex. Later, on the first day of 2026, Tether transferred 8,888.8 BTC, valued around $778 million, to its Bitcoin reserve address.
Notably, EmberCN stated that Tether often finalizes quarterly Bitcoin transfers on the last day of a quarter. Sometimes, the firm completes the movement on the first day of the following quarter.
Reserve Size and Wallet Ranking
Following these transfers, Tether’s Bitcoin reserve address now holds 96,185 BTC. At current prices, that balance equals about $8.42 billion. According to EmberCN, this makes the address the fifth-largest Bitcoin wallet globally.
Arkham Intelligence data also reflects the same reserve size. The wallet ranking places Tether behind only a small number of large custodial or institutional holders. As a result, Tether remains one of the largest corporate Bitcoin holders.
EmberCN calculated that the average acquisition price for the Q4 purchases stood near $51,117 per BTC. Based on current market prices, EmberCN estimated an unrealized gain of approximately $3.524 billion.
Treasury Policy Behind the Accumulation
The Q4 purchases align with Tether’s treasury policy announced in May 2023. At that time, Tether said it would allocate up to 15% of realized operating profits to Bitcoin purchases.
According to EmberCN, Tether has followed a consistent pattern under this policy. The company typically accumulates Bitcoin during each quarter. It then transfers the acquired assets to on-chain reserve wallets at quarter-end or shortly after.
These latest movements continued that approach without changes to the stated allocation framework.