Strategy Chairman Michael Saylor Congratulates Tether on Acquiring 8,888 Bitcoin in Q1 2025
Strategys executive chairman, Michael Saylor, congratulates leading stablecoin issuer Tether for acquiring 8,888 Bitcoin in Q1 2025. To mark the end of Q1 2025, Tether purchased 8,888 BTC for about $735 million. The transaction occurred yesterday, March 31, 2025, at 21:58 (UTC). It increased the firms total Bitcoin holdings to 92,646 BTC. The dollar equivalent of Tethers Bitcoin holdings is $7.75 billion. Tethers Bitcoin Holdings Notably, the latest acquisition aligns with Tethers strategy of acquiring Bitcoin quarterly using a portion of its net profit. After each acquisition, Tether usually moves the funds to its reserve wallet at the end of each quarter. Following the latest transaction, Tethers reserve wallet ranks in the sixth position among the Top 100 Richest Bitcoin addresses. This indicates that the Tether address is the sixth largest in terms of the amount of BTC held by a single blockchain wallet. For context, Tether made its first Bitcoin purchase in September 2022. Ever since, it has embarked on a Bitcoin accumulation spree, committing 15% of its net profits to purchase BTC quarterly. Saylor Congratulates Tether Interestingly, Tethers latest Bitcoin purchase attracted the attention of Strategys executive chairman, who congratulated the stablecoin issuer. Congratulations [to Tether on acquiring] 8,888 bitcoin in Q1, Saylor remarked. The commentary suggests that Saylor considers Tethers purchase of 8,888 BTC as a significant development worthy of recognition. https://twitter.com/paoloardoino/status/1907046212961804291Strategys Bitcoin Acquisition It is no longer news that Saylor is a major advocate for the corporate adoption of Bitcoin. He led Strategy (formerly MicroStrategy) to acquire Bitcoin for its treasury. Since the companys first purchase in August 2020, it has grown its total Bitcoin holdings to 528,185, currently worth $44.18 billion. Strategy acquired 81,785 BTC in Q1 2025 across nine transactions. Its most recent purchase occurred on March 31, acquiring 22,048 BTC for $1.92 billion. Unlike Tether, which uses 15% of its net profits to purchase BTC, Strategy finances its Bitcoin acquisition with proceeds from its stock offerings, such as MSTR, STRK, and STRF. The firm has remained confident in its Bitcoin acquisition initiative, with Saylor believing that BTC would eventually reach a market cap of $500 trillion. This represents a surge of 30,020% from the current valuation of $1.66 trillion. Achieving this milestone could raise Bitcoins price to $23.81 million from its current value of $83,700.
Text source: The Crypto Basic
