Who has the most Bitcoin? Tether is climbing the ranks and now has the third largest Bitcoin reserve in the world.

Who has the most Bitcoin? Tether is climbing the ranks and now has the third largest Bitcoin reserve in the world.

Tether closed 2025 with a massive purchase of 8.888 BTC, consolidating itself as the third largest corporate Bitcoin treasury in the world and positioning its wallet as the fifth largest globally.

The company that issues the world's most widely used stablecoin, USDT, confirmed on New Year's Eve a strategic acquisition of 8.888 BTCThis operation was not an isolated move, but the culmination of an aggressive asset accumulation policy that has raised its total disclosed holdings to over 96.000 Bitcoin coins.

With this latest capital injection, valued at approximately $780 million at the time of execution, Tether reaffirms its commitment to allocate up to 15% of its quarterly operating profits to the market-leading cryptocurrency. 

According to analysts, this move has a dual purpose: on the one hand, it diversifies the backing of its stablecoin, and on the other, it propels it up the global rankings. Currently, the firm led by Paolo Ardoino holds the Bitcoin's third corporate treasury the world's largest among public and private entities, ranking behind the undisputed giant of the sector, Strategy, and the private blockchain software firm Block.one. 

Thus, Tether has ceased to be just a bridge to the digital dollar to become one of the largest treasuries in the crypto ecosystem.

Trade Bitcoin on Bit2Me: start today

Tether climbs in the global BTC address ranking

The steady accumulation of bitcoins has transformed Tether's position within the crypto ecosystem. On-chain data compiled by BitInfoCharts shows that its main wallet currently ranks among the top five in the world. 

This is no small feat, as the Bitcoin addresses that currently surpass Tether's belong to exchange platforms like Binance and Bitfinex, whose funds come from millions of users worldwide. In contrast, Tether manages its own capital, a difference that strengthens its financial autonomy compared to other players in the sector.

Top 5 largest Bitcoin addresses in the world:
Source: BitInfoCharts

Over the past year, unusual movements in the company's BTC holdings have fueled speculation about potential sales. However, Tether CEO Paolo Ardoino clarified that these were not liquidations, but rather transfers to Twenty One Capital, an entity backed by the company that currently manages an additional 43.500 BTC. This detail suggests that Tether's effective control over digital assets is even greater than the raw figures indicate.

However, even with this expansion within the crypto universe, Tether seeks to maintain a balance between risk and stability. Therefore, in 2025, it also increased its exposure to physical gold, accumulating a total of 116 tons, following a massive purchase of 26 tons during the third quarter. With this acquisition, it surpassed several central banks in volume and consolidated its diversification strategy alongside US Treasury bills and its Bitcoin reserves.

Tether buys more BTC: Buy Bitcoin here

Bitcoin dominates corporate balance sheets

The landscape of institutional investment has changed radically with the massive influx of Bitcoin, which has ceased to be a speculative asset in institutional portfolios. Now, the market-leading cryptocurrency is considered a structural component of corporate balance sheets, forming part of public and private companies, family officeshedge funds, sovereign wealth funds, and even governments. 

Records from the Bitcoin Treasuries platform confirm that Strategy maintains its absolute leadership with a titanic accumulation that surpasses 672.400 BTCBlock.one, in second place, holds a reserve of 164.000 BTC, financed through debt and capital expansion. Meanwhile, Tether, securing third place, is far ahead of the rest of the field, where emerging players like the Japanese firm Metaplanet are attempting to replicate the model established by Strategy, recently adding 4.279 coins to reach a total of 35.102 units of the cryptocurrency.

According to experts, Tether's consistent quarterly buying pressure acts as a market stabilizer, absorbing supply regardless of short-term retail sentiment. However, the sector faces a worrying financial paradox identified by DL News analysts: the discount on the Net Asset Value (NAV).

Currently, nearly 40% of the top 100 publicly traded companies with Bitcoin holdings are trading below the intrinsic value of their cryptocurrency holdings. Macroeconomic expert Alex Kruger warns that this situation is unsustainable. When a company trades at a discount, issuing new shares to buy more Bitcoin becomes destructive for shareholders, as it dilutes value without providing proportional growth. This scenario suggests we may be on the verge of a consolidation phase, where mergers and acquisitions will be necessary to correct these market inefficiencies.

Create your account and access Bitcoin now

Tether solidifies Bitcoin as a reserve standard

In short, Tether's recent acquisition of 8.888 BTC is more than just an accounting transaction; it's a statement of intent about the future of money. 

By consolidating the world's fifth-largest wallet and third-largest corporate treasury, the company is building a financial hybrid that combines the agility of cryptocurrencies with the strength of gold and US debt. 

Thus, while the market debates stock valuations and NAV discounts, Tether continues to quietly execute its strategy, demonstrating that for large corporations, Bitcoin is an unavoidable reserve standard.

Trade BTC on Bit2Me today