Tether’s holdings of BTC currently have a profit of $1.1 billionTether’s holdings of BTC have announced a new investment strategy that will see it allocate up to 15% of its net realized operating profits towards purchasing Bitcoin (BTC). The move is seen as a sign of Tether’s confidence in the cryptocurrency market and its belief in Bitcoin’s long-term potential. Under the new strategy, Tether will only purchase Bitcoin with profits that it has already realized, rather than unrealized capital gains from price increases.
Tether will also store the Bitcoin it purchases in its own custody, rather than using a third-party custodian. This is in line with the company’s philosophy of “Not your keys, not your bitcoin”. Tether’s decision to invest in Bitcoin is based on the belief that the cryptocurrency has the potential to reshape the way we conduct business and live our lives. Bitcoin has a proven track record of impressive returns and is increasingly being recognized and adopted by major financial institutions. Tether believes that Bitcoin is a key component of a diversified investment portfolio. In addition to investing in Bitcoin, Tether is also exploring other opportunities in the digital asset landscape.
Source
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