Tether, the issuer of world’s leading stablecoin USDT, is advancing in the Bitcoin (BTC) accumulation race. It has significantly strengthened its reserves by acquiring 8,889 BTC recently. The recent acquisition has boosted Tether’s total Bitcoin reserves to over 75,000 BTC, valued at more than $5.3 billion. According to to Arkham Intelligence data, on-chain transactions indicate that Tether received the Bitcoin from Bitfinex’s hot wallet on March 31, 2024, at 17:21 UTC. At the time, the transaction amounted to approximately $627 million. Moreover, this strengthens Tether’s position as the seventh largest Bitcoin address in the world.