Tether to spend profits on growing its mysterious bitcoin reserves
As of March, Tether’s $1.5B in bitcoin was triple the amount of cash in its reserves. This change will likely exacerbate that difference.
Cryptocurrency news by Protos · Protos
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Show Notes
Tether, the world’s largest stablecoin, has announced its intention to use up to 15% of its profits to purchase additional bitcoin.
As of March 31, the approximately $1.5 billion in bitcoin Tether held was approximately triple the amount of cash in its reserves. This change will presumably exacerbate that difference.
Listen to this article to discover why Tether is making bitcoin investments, despite dwindling cash on hand.
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