Tether aims to diversify its reserves portfolio by investing in Bitcoin

Stablecoin issuer Tether announced its plans to strengthen its reserves by using a fraction of the firm's realized profits to purchase Bitcoin.
Dot
May 17, 2023
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

TABLE OF CONTENTS
Photo Source: Tether
As stated by Tether, “By incorporating Bitcoin into its investment strategy, Tether aims to capitalize on the digital asset's potential growth, while leveraging its position as a trusted and reliable financial infrastructure provider.” 

Stablecoin issuer Tether (USDT) announced its plans to strengthen its reserves by using a fraction of its realized profits to purchase Bitcoin (BTC).

In the official blog post, Tether’s CTO Paolo Ardoino praised Bitcoin’s potential as an investment product. According to him, Bitcoin’s limited supply, extensive adoption, and growth potential make it the ideal token to enhance the performance of Tether’s portfolio. He added,

“The decision to invest in Bitcoin, the world's first and largest cryptocurrency, is underpinned by its strength and potential as an investment asset. Bitcoin has continually proven its resilience and has emerged as a long-term store of value with substantial growth potential.”



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Therefore, starting May 2023, Tether intends to assign 15% of its net profits to buying Bitcoin. Moreover, the firm's Q1 2023 Assurance Report revealed that Tether held $1.5B in Bitcoin as of March 2023.

Tether stressed that it will store the purchased BTC assets in private wallets instead of employing a third-party custodian to safeguard its Bitcoin holdings. Furthermore, the issuer of the stablecoin with the largest market cap also plans to invest in communication technologies, energy, and Bitcoin mining.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn

Tether aims to diversify its reserves portfolio by investing in Bitcoin

HomeBitcoin
Contents
Photo Source: Tether
As stated by Tether, “By incorporating Bitcoin into its investment strategy, Tether aims to capitalize on the digital asset's potential growth, while leveraging its position as a trusted and reliable financial infrastructure provider.” 

Stablecoin issuer Tether (USDT) announced its plans to strengthen its reserves by using a fraction of its realized profits to purchase Bitcoin (BTC).

In the official blog post, Tether’s CTO Paolo Ardoino praised Bitcoin’s potential as an investment product. According to him, Bitcoin’s limited supply, extensive adoption, and growth potential make it the ideal token to enhance the performance of Tether’s portfolio. He added,

“The decision to invest in Bitcoin, the world's first and largest cryptocurrency, is underpinned by its strength and potential as an investment asset. Bitcoin has continually proven its resilience and has emerged as a long-term store of value with substantial growth potential.”



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Therefore, starting May 2023, Tether intends to assign 15% of its net profits to buying Bitcoin. Moreover, the firm's Q1 2023 Assurance Report revealed that Tether held $1.5B in Bitcoin as of March 2023.

Tether stressed that it will store the purchased BTC assets in private wallets instead of employing a third-party custodian to safeguard its Bitcoin holdings. Furthermore, the issuer of the stablecoin with the largest market cap also plans to invest in communication technologies, energy, and Bitcoin mining.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

As stated by Tether, “By incorporating Bitcoin into its investment strategy, Tether aims to capitalize on the digital asset's potential growth, while leveraging its position as a trusted and reliable financial infrastructure provider.” 

Stablecoin issuer Tether (USDT) announced its plans to strengthen its reserves by using a fraction of its realized profits to purchase Bitcoin (BTC).

In the official blog post, Tether’s CTO Paolo Ardoino praised Bitcoin’s potential as an investment product. According to him, Bitcoin’s limited supply, extensive adoption, and growth potential make it the ideal token to enhance the performance of Tether’s portfolio. He added,

“The decision to invest in Bitcoin, the world's first and largest cryptocurrency, is underpinned by its strength and potential as an investment asset. Bitcoin has continually proven its resilience and has emerged as a long-term store of value with substantial growth potential.”



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Therefore, starting May 2023, Tether intends to assign 15% of its net profits to buying Bitcoin. Moreover, the firm's Q1 2023 Assurance Report revealed that Tether held $1.5B in Bitcoin as of March 2023.

Tether stressed that it will store the purchased BTC assets in private wallets instead of employing a third-party custodian to safeguard its Bitcoin holdings. Furthermore, the issuer of the stablecoin with the largest market cap also plans to invest in communication technologies, energy, and Bitcoin mining.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande