Tether just bought 8,888 Bitcoin, exposing a mechanical profit engine turning T-Bills into automatic crypto demand

Tether CEO Paolo Ardoino announced the purchase of 8,888 Bitcoin in Q4 2025, bringing the company's total holdings above 96,000 BTC. This purchase aligns with Tether's policy of allocating 15% of its quarterly profits to Bitcoin, creating a mechanical demand engine for BTC tied to its stablecoin earnings from high short-term interest rates on its reserves, primarily U.S. Treasury bills.

As of September 30, 2025, Tether held $9.856 billion in Bitcoin, representing about 5.4% of its $181.223 billion in total reserves against $174.445 billion in liabilities, leaving $6.778 billion in excess reserves. The policy means that higher interest income from T-Bills translates directly into more Bitcoin purchases, linking stablecoin growth and prevailing rates to recurring spot demand for BTC. However, this allocation also increases Tether's mark-to-market exposure, drawing scrutiny from regulators and rating agencies like S&P, which recently lowered its assessment due to higher-risk assets in reserves.

The article suggests that Tether's systematic buying, alongside U.S. spot Bitcoin ETF flows, will increasingly influence the Bitcoin market structure. The ongoing discussion around stablecoin oversight by bodies like the IMF further emphasizes that reserve composition and transparency are becoming critical components of Tether's risk profile.

(Source：CryptoSlate)