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Tether’s Bitcoin reserves valued at $8.37B in Q3 report

Tether’s Q3 report values its Bitcoin at $8.37 billion, up from $5.8 billion in June, giving USDT holders a snapshot of assets backing the token.

Crypto Daybook Newsroom2 min read

Tether’s Bitcoin reserves valued at $8.37B in Q3 report

Tether’s latest reserve report puts its Bitcoin holdings at $8.37 billion on Sept. 30, giving USDT holders a quarter-end snapshot of assets backing the dollar-linked token. The BDO assurance report on Tether’s reserves lists Bitcoin among the assets held by Tether International, S.A. de C.V.

The report was prepared for Sept. 30 and authorized on Oct. 30. BDO’s independent check covered the figures at that date; it did not cover activity before or after it. Tether’s Q3 announcement said the report covered the reserves backing its USD₮ tokens.

How much did Tether’s reported Bitcoin value change?

It rose from about $5.8 billion at the end of June to $8.37 billion at the end of September, according to Cointelegraph’s report on the figures. That is an increase of roughly $2.57 billion in reported value over the quarter.

The September report lists the Bitcoin holdings at $8,367,170,264. It values them using a Bitcoin price of $83,621.23, the Bloomberg closing price on Sept. 30. The report describes the category as Bitcoin held in on-chain wallets controlled by the company.

Does the higher value mean Tether bought more Bitcoin?

The report does not say how many bitcoins Tether held or explain how much of the increase came from purchases versus price changes. It gives a dollar value for the holdings on one date, so the quarter-to-quarter change alone does not establish how the amount of Bitcoin changed.

How large is Bitcoin in Tether’s overall reserves?

Bitcoin made up about 4.4% of Tether’s $191.45 billion in total assets at the end of September, based on the figures in BDO’s report. Those assets exceeded total liabilities of $183.50 billion by about $7.95 billion.

That excess is the reserve buffer: the amount by which reported assets topped liabilities on the reporting date. Tether said its direct and indirect U.S. Treasury bill holdings were $132.4 billion. The report’s figures give holders a breakdown of the assets behind USDT, while the Bitcoin value shows how one market-priced holding can shift between quarter-end snapshots.

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