Stablecoin issuer Tether bought another $380 million of bitcoin at the end of last quarter, bringing its total holdings to 66,465 BTC ($2.8 billion).

Tether began purchasing bitcoin in September 2022 with an initial buy of 33,980 BTC. Since then, the company has consistently acquired bitcoin every quarter. Its second-largest purchase was in March 2023 when it bought 15,915 BTC. The most recent purchase of 8,888 BTC, at the end of the fourth quarter of 2023, stands as Tether's third largest to date, according to blockchain data.

Tether first disclosed its bitcoin holdings in May 2023 as part of its first-quarter attestation report for that year.

While Tether hasn't officially revealed its bitcoin addresses, 21.co Research Analyst Tom Wan identified an address, in August last year, that …