PANews reported on January 1st that, according to on-chain analyst Ember, USDT issuer Tether should have purchased 9,850 BTC (worth $876 million) in the fourth quarter of 2025: 961 BTC ($97.18 million) withdrawn from Bitfinex on November 7, 2025, and 8,888.8 BTC ($778 million) withdrawn to their BTC reserve address on the first day of 2026.

Since May 2023, Tether has announced its decision to regularly use 15% of its profits to purchase Bitcoin for reserves. It typically withdraws the quarterly purchases to its on-chain wallet on the last day of each quarter or the first day of the following quarter. Currently, its BTC reserve address holds 96,185 BTC ($8.42 billion), making it the fifth largest BTC wallet. Based on the price at which it withdrew from Bitfinex, the average price of these BTC is approximately $51,117, currently representing a floating profit of $3.524 billion.