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The stablecoin issuer is doubling down on its Bitcoin bets, sending 7,629 Bitcoin units to its reserve wallet

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USDT stablecoin issuer Tether Holdings Ltd is in the news again, but this time, regarding its Bitcoin strategic reserve holdings.

According to ochain data, the firm just sent a total of 7,629 Bitcoin units to its reserve wallet.

The funds came from its affiliated crypto trading platform Bitfinex after it has remained dormant for 9 months .

The firm accumulated this funds for $2.99 billion at an average price of approximately $36,125 .