Tether, the world’s largest publisher of Stablecoin, has now purchased nearly 8,889 Bitcoin and has added $1 billion worth of assets to its balance sheet, following on-chain data.
The chain transfer brings the company’s major Treasury ministry to over 86,000 BTC. It solidifies Tether’s position as one of the world’s largest Bitcoin holders.
The acquisition appears to be part of a deliberate strategy to diversify Tether reserves into “hard assets” such as Bitcoin, Gold and even agriculture.
Earlier this year, the company held over 100,000 BTC along with 50 tons of gold and invested in Bitcoin finance company XXI through transfers of over 15,000 BTC in June and July.
Tether has not made any official announcements regarding the transaction. Perhaps this transaction is a purchase, but it could be a transfer for another purpose.
Beyond digital assets, Tether has acquired a 70% stake in Adecoagro, a Latin American agribusiness with over 210,000 hectares of farmland in Argentina, Brazil and Uruguay.
By securing the balance sheet to non-sorbline assets, Tether has positioned itself as more than just a stablecoin issuer. The company is particularly betting that Bitcoin will serve as a long-term reserve asset. This is a hedge against both inflation and the sovereign debt market.
Piggyback from this sentiment, Bitwise CIO Matt Hogan wrote in a memo that Tether’s rapid growth could become the most profitable company in history.
Tether’s $20 Billion Funding Gambit
The addition of $1 billion in Bitcoin is because Tether pursues one of the most ambitious fundraising rounds in corporate history. The company reportedly seeks fresh equity capital in between $15 million and $150 billion in exchange for about 3% of its shares.
It would place it among the most valuable private companies in the world, comparable to SpaceX and Openai.
Cantor Fitzgerald is said to be advising existing investors on transactions that include new stocks rather than cashing.
Tether pivots towards US regulations
At the same time, Tether is preparing to launch USAT, a fully US-compliant Stablecoin designed for the American market.
The project is aimed to be led by former White House adviser Beau Hines and is aimed at aligning with the genius law, the US regulatory framework for dollar-backed stubcoins.
Unlike USDT, which was traditionally operated outside the US due to regulatory pressure, USAT is issued under US surveillance, owned by Anchorage Digital Bank and managed by Cantor Fitzgerald. The year-end launch represents the most direct challenge of the circle USDC Tether, the US, to Stablecoin, which holds major US regulations.
Earlier this year, Tether announced that USDT is returning to Bitcoin via Taproot Assets due to its initial publication on Bitfinex and interoperability with the Lightning Network.