Tether (USDT), the world’s largest stablecoin issuer, increased its investments in Bitcoin (BTC) and became the tenth largest owner.
While the cryptocurrency market continues its upward momentum, a new Bitcoin move came from the Tether front. According to on-chain data provided by BitInfoCharts, the giant company 1 January day cryptocurrency exchange bitfinex through $400 million worth 8,888 Bitcoins he bought.
On Tether’s balance sheet $25,176 at cost $2.82 billion worth 66,465 Bitcoins is available. The company is currently investing in Bitcoin $1.1 billion An investment of this amount while making a profit positions Tether as the tenth largest holder of Bitcoin.
Tether has investments in many different areas such as US bonds, gold and Bitcoin. The company is trying to lower the risk threshold by dividing its balance sheet into different sectors.
Tether, which showed a successful performance last year, according to current data 92 billion dollars It is positioned at a market value. According to CoinGecko data, in the last 24 hours 8% up Bitcoin exhibiting, at the time of writing from $45,850 is being traded.