Stablecoin issuer Tether transferred 8,888.889 BTC into its treasury on September 30, according to on-chain data from Arkham, bringing the balance of its primary treasury address to 86,335.46 BTC. 

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This bitcoin accumulation forms part of Tether’s broader strategy to accumulate hard assets including gold and land. Back in May, Tether announced that it held over 100,000 BTC and 50 tons of gold. It made notable investments in bitcoin treasury company XXI, transferring over 15,000 BTC in June and July. Tether also holds a 70% stake in Adecoagro, the Latin American agribusiness that controls some 210,400 hectares of farmland across Argentina, Brazil and Uruguay. 

Recently Tether announced USAT, a fully compliant U.S.-specific stablecoin. 

Read More: Why Tether is launching USAT, its U.S.-only stablecoin