Tether, a major stablecoin issuer, has increased its Bitcoin holdings by 8,888 BTC, valued at approximately $627 million.

The company's total Bitcoin reserves now amount to 75,354 BTC, with an estimated worth of $5.16 billion.

Tether has announced plans to continue purchasing Bitcoin, committing up to 15% of its net realized operating profits to expand its Bitcoin reserves.

Paolo Ardoino, Tether's CEO, has outlined a bold quarterly investment strategy to maintain the company's leadership in the fintech sector.

Despite its aggressive investment in Bitcoin, Tether has been scrutinized for opacity in its operations and alleged involvement in illicit activities.