Tether, the company managing the reserves of the world’s largest stablecoin USDT, has announced a new investment strategy aimed at strengthening its reserves portfolio. Tether will now allocate up to 15% of its net realized operating profits toward purchasing Bitcoin (BTC) regularly. This move is expected to diversify Tether’s reserves, which currently hold approximately $1.5 billion in BTC. Tether’s Q1 2023 Assurance Report highlights the company’s commitment to maintaining a strong shareholder capital cushion while increasing its Bitcoin holdings. The report also notes that Tether takes possession of the private keys associated with all of its Bitcoin holdings, reflecting the
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Author: coinmaker