Tether (USDT), the world’s largest stablecoin issuer, has announced that it will invest in Bitcoin with up to 15% of its net profit from this month.
Tether has announced that it will regularly increase its Bitcoin investments. In the announcement made by the company, their net profit for the next month, including this month, up to 15% It was stated that the remaining portion will be spent to invest in Bitcoin. The company redeems all the Bitcoins it buys. will be kept within the company and stated that it will not involve third parties in this business.
Tether’s CTO Paolo Ardoino In his statement, he mentioned the impressive performance of Bitcoin in the last year and emphasized that it would be the right choice as a long-term store of value.
The decision to invest in Bitcoin, the world’s first and largest cryptocurrency, is supported by its strength and potential as an investment asset. Bitcoin has consistently proven its resilience and has emerged as a long-term store of value with significant growth potential. Its limited supply, decentralized nature and widespread adoption have positioned Bitcoin as a preferred choice among both institutional and individual investors.
The company’s current reserves 2% of constituent 1.5 billion dollars worth of Bitcoin. Net income in the first quarter 2023 earnings report shared by Tether 1.48 billion dollars was specified as. When an estimated calculation is made on the net profit in the balance sheet report 15% part equivalent to $225 million is coming. According to this account, the company took about 3 months. $225 million worth of Bitcoin investment might consider doing it.