Tether (USDT) holds $1.5 billion worth of Bitcoin (BTC), now it is set to increase it USDT $BTC BTC
This, according to the company, is part of its most recent investment plan meant to boost its portfolio of reserves.
Tether claims that under this new strategy, it will ignore unrealized capital gains resulting from price increases and instead concentrate solely on utilizing realized profits from its investing plan. This means that Tether will solely make use of the tangible gains from its operations.Tether Almost Recovers Market Value Lost After Terra UST Collapse
Paolo Ardoino, CTO of Tether, gives the reason for this move:"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."
The Bitcoin price has yet to react to this positive news, as it remains down 1.24% in the last 24 hours at $26,727.Labs has announced Taproot Assets v0.2, which is currently on the testnet. This solution aims to support asset creation on Bitcoin while preventing high fees and congestion issues. Bitcoin Lightning Network developer Lightning Labs has announced Taproot Assets v0.2, which is currently on testnet.
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