Tether, the issuer of the world’s largest stablecoin, purchased nearly 8,889 bitcoin today, adding more than $1 billion worth of the asset to its balance sheet, as per the on-chain data.

The on-chain transfer brings the company’s primary treasury holdings to more than 86,000 BTC — cementing Tether’s status as one of the largest corporate bitcoin holders in the world.

The acquisition seems to be a part of a deliberate strategy to diversify Tether’s reserves into “hard assets” such as bitcoin, gold, and even agriculture. 

Earlier this year, the company disclosed it held over 100,000 BTC alongside 50 tons of gold, while also investing in XXI, a bitcoin treasury…

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