Tether, the issuer of the world’s largest stablecoin, has acquired nearly 8,889 bitcoin today, boosting its balance sheet by over $1 billion worth of the asset. The on-chain transfer elevates the company’s primary treasury holdings to over 86,000 BTC — solidifying Tether’s position as one of the largest corporate bitcoin holders globally. The acquisition appears to be a strategic move aimed at diversifying Tether’s reserves into “hard assets” like bitcoin, gold, and even agriculture. Earlier this year, the company revealed it possessed more than 100,000 BTC along with 50 tons of gold. Additionally, it made investments in XXI, a bitcoin treasury firm, with transfers surpassing 15,000 BTC in June and July.
Tether has yet to issue any formal statement concerning this transaction. This transaction appears to be a purchase; however, it may also serve as a transfer for an alternative purpose. Tether has made headlines by acquiring a 70 percent stake in Adecoagro, a prominent Latin American agribusiness that manages over 210,000 hectares of farmland spread across Argentina, Brazil, and Uruguay. Tether is strategically anchoring its balance sheet in non-sovereign assets, thereby establishing itself as more than merely a stablecoin issuer. The company is positioning itself with the belief that bitcoin, specifically, will act as a long-term reserve asset — a safeguard against inflation and sovereign debt markets. Piggybacking off this sentiment, Matt Hougan noted that Tether’s rapid growth could position it as the most profitable company in history, potentially surpassing Saudi Aramco, thanks to its access to global currency and money markets.
The billion-dollar bitcoin acquisition arrives as Tether embarks on one of the most audacious fundraising efforts in corporate history. The company is reportedly seeking $15–20 billion in fresh equity capital in exchange for about 3 percent of its shares, a deal that would value Tether near $500 billion. This positions it alongside some of the most valuable private companies globally, competing with giants like SpaceX and OpenAI. Cantor Fitzgerald is reportedly advising on the transaction, which involves new shares instead of existing investors cashing out. Tether is gearing up to introduce USAT, a stablecoin that is fully compliant with U.S. regulations and tailored for the American market. The initiative will be led by ex-White House adviser Bo Hines and seeks to align with the GENIUS Act, which serves as the U.S. regulatory framework for dollar-backed stablecoins.
In contrast to USDT, which has historically functioned beyond U.S. borders due to regulatory challenges, USAT will be launched under American supervision, with reserves maintained by Anchorage Digital Bank and partially managed by Cantor Fitzgerald. The upcoming launch, set for year-end, marks Tether’s most significant challenge to date against Circle’s USDC, which currently holds the title of the leading U.S.-regulated stablecoin. In a significant development earlier this year, Tether revealed that USDT is making its way back to Bitcoin through Taproot Assets. The initial issuance will take place on Bitfinex, and it will feature interoperability with the Lightning Network.