Tether, the dominant player in the stablecoin market, has increased its investment in Bitcoin (BTC), pushing its aggregate Bitcoin assets above the $2.8 billion mark. According to information from the blockchain, a Bitcoin address linked to Tether was credited with an addition of 8,888 BTC, equivalent to $379 million, toward the close of December. This purchase raised Tether’s Bitcoin inventory to a sum of 66,465 BTC. This indicates that it ranks among the largest privately-owned entities possessing Bitcoin. Throughout 2023, Tether consistently acquired Bitcoin. In May, the company declared its intention to start allocating earnings toward purchasing Bitcoin for its reserve holdings. Howard Lutnick, the CEO of Cantor Fitzgerald, communicated to detractors in an interview with CNBC in December, asserting that the Wall Street brokerage firm possesses a significant quantity of the stablecoin company’s government bonds. “I maintain their financial reserves, which are quite substantial, currently exceeding $90 billion,” he declared. Just recently, Lutnick emphatically reiterated to Bloomberg that Tether indeed possesses the reserves it claims to have. “He mentioned that they possess the funds. Keep abreast of cryptocurrency news and receive daily summaries sent directly to your email.”