Tether (USDT) Holdings Surge to $4.8B in Bitcoin (BTC) and $5B in Precious Metals

Tether increased its Bitcoin and precious metals holdings in Q3 2024, bringing them to $4.8 billion and $5 billion, respectively

Stablecoin issuer Tether has increased its Bitcoin (CRYPTO: BTC) and precious metals holdings in the third quarter of 2024, according to its latest Consolidated Financials Figures and Reserves Report.

The stablecoin issuer's Bitcoin holdings increased to $4.8 billion, while its precious metals holdings reached $5 billion.

Both figures saw a significant rise from the previous quarter, when Bitcoin holdings were at $3.2 billion and precious metals holdings were at $3.7 billion.

The stablecoin issuer also significantly boosted its US Treasury Holdings to $102.5 billion, which now forms the largest portion of its reserves.

Building on a strong financial foundation, Tether's net equity rose to $14.2 billion, more than doubling from $7 billion at the end of 2023.

This quarter, Tether's USDT in circulation reached an all-time high of nearly $120 billion, driven by rising global demand.

With a 30% increase in 2024, adding $27.8 billion year-to-date, Tether's issuance now stands close to the market cap of Circle's USDC, which is at $35 billion according to CoinGecko data.

Through its separate entity, Tether Investments Limited, the company manages $7.7 billion in assets across sustainable energy, Bitcoin mining, and data infrastructure sectors. These investments are not included in the reserves backing Tether tokens.

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