Tether, the largest stablecoin issuer, continues to increase its bitcoin holdings through substantial investments.
Increase in Tether's Bitcoin Reserves
Recently, Tether purchased 7,629 bitcoins worth $705.25 million from the cryptocurrency exchange Bitfinex. This transaction raised their total bitcoin reserves to 82,983 BTC, valued at $7.68 billion. The company's strategy includes investing 15% of profits in bitcoin starting from May 2023.
Tether's Plans to Expand Financial Influence
Tether plans to expand its financial influence by investing $5 billion in commodities. The initial announcement about bitcoin investments was made in the Q1 2023 report, where the company stated its intention to reduce dependence on government bonds. By 2024, Tether also plans major investments into emerging sectors such as artificial intelligence and decentralized communications.
Tether's Reserves in Other Assets
In addition to bitcoin, Tether holds $100 billion in bonds and 48.3 tonnes of gold reserves. The company's total profit for 2024 may exceed $7.7 billion by the end of Q3, making it one of the largest bond investors in the world.
Tether continues to actively grow its investments in bitcoin and other key assets, aiming to diversify its reserves and reduce reliance on traditional financial instruments.
