Tether, the entity behind the Tether stablecoin, has acquired a substantial amount of Bitcoin, purchasing 8,888 Bitcoin valued at $618 million on March 31. This move has increased Tether's Bitcoin portfolio to 75,354 units, acquired at an average price of $30,305 each, now valuing approximately $5.2 billion. The acquisition reflects a significant unrealized profit of over 128%, amounting to $2.94 billion, according to CoinStats data. This strategic investment aligns with a period marked by growing institutional interest in Bitcoin, driven by recent regulatory approvals and anticipation of the Bitcoin halving event. Tether has now become the seventh-largest Bitcoin holder globally, with intentions to allocate 15% of its net profits to Bitcoin investments. This decision follows Tether's milestone $100 billion market cap achieved on March 4, despite a minor dip in the crypto market. Bitcoin maintained its position above $69,000 since March 25, signaling the end of the pre-halving correction period. Analysts believe that Bitcoin's resilience and potential for surpassing previous all-time highs indicate strong momentum leading up to the halving event. Experts, however, suggest that Bitcoin's current valuation may not fully reflect the impact of the upcoming halving event.