2025 RECAP | Leading Stablecoin Company, Tether, Among the Top 5 Largest Bitcoin Holders in 2025

Stablecoin giant, Tether, has bolstered its Bitcoin treasury with the acquisition of 8,888 BTC – roughly $780 million worth – in the fourth quarter of 2025, according to on-chain data and statements from CEO, Paolo Ardoino. The move increases the company’s total disclosed holdings to more than 96,000 BTC, placing Tether’s wallet among the top five richest Bitcoin addresses in the world.

Tether’s strategy of allocating a portion of its operating profits – up to 15 % per quarter – toward Bitcoin accumulation reflects a broader trend of corporate and institutional holders stacking BTC as a strategic reserve asset.

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Where Tether Now Ranks Among Bitcoin Holders

While Tether’s BTC stash is substantial, it remains dwarfed by the biggest players in the Bitcoin ecosystem. According to recent on-chain intelligence:

• Satoshi Nakamoto – the pseudonymous creator of Bitcoin – is estimated to hold ~1.1 million BTC, far more than any other individual or entity.
• BlackRock’s iShares Bitcoin Trust (IBIT), a flagship institutional ETF, has amassed an estimated hundreds of thousands of BTC, often cited as one of the largest holders globally due to ETF inflows.
• Strategy Inc. (formerly MicroStrategy) remains the largest corporate Bitcoin holder, with roughly 670,000+ BTC on its balance sheet as of late 2025, acquired through debt- and equity-funded purchases since 2020.
• Other major corporates and investment vehicles – such as MARA Holdings, Twenty One Capital (XXI), Riot Platforms, and Bitcoin Standard Treasury Company – also hold tens of thousands of BTC each, demonstrating a diversified landscape of strategic accumulation.

Placing Tether alongside these heavyweights highlights its growing influence: with ~96,000 BTC, it competes with some of the largest institutional and corporate holders, though it still trails the top institutional ETF and legacy corporate stacks.

LIST | The 10 Public Companies With the Largest Bitcoin Holdings as of April 2025

Tether’s Bitcoin accumulation underscores two key market dynamics in 2025:

1. Institutional and corporate appetite for BTC as reserve capital is intensifying, with entities treating Bitcoin not just as a speculative asset but as a strategic store of value alongside traditional holdings like Treasuries and gold.
2. On-chain dominance by major holders – from Satoshi’s dormant stash to sizeable ETF and corporate treasuries – continues to shape liquidity, price behavior, and market narratives as Bitcoin matures toward broader institutional integration.

Tether’s latest purchase may also feed debates around stablecoin treasury risk profiles, given Bitcoin’s volatility compared with traditional reserve assets – a topic that analysts and credit assessors are increasingly scrutinizing.

PRESS RELEASE | The First Bitcoin Treasury Company Receives a B- Rating from a Major Credit Rating Agency

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