Tether, the company behind USDT, became the eleventh company that holds the most Bitcoin.
Tether, the issuer of USDT, attracted attention with its Bitcoin holdings, making the company the eleventh largest holding Bitcoin.
Tether attracted attention with Bitcoin presence
The stablecoin issuer is stated to hold an estimated 55,022 Bitcoins at his undisclosed Bitcoin address. This amount corresponds to a value of approximately 1.6 billion dollars.
Tether’s Bitcoin holdings are in line with the total Bitcoin holdings reported in the company’s second-quarter reserve report. In the first quarter of this year, Tether announced its plan to shift its reserves to crypto assets and invest up to 15 percent of its profits in Bitcoin. However, the company stated that it predicts that its reserves will not exceed the Shareholder Capital Pillow of current and future Bitcoin holdings and will strengthen and diversify its reserves.
The fact that Tether has such a large amount of Bitcoin could lead to some intrigue and speculation about its potential to influence the market. But official statements and financial reports show how the company manages and invests in its reserves. Such information is important to investors and the crypto community and can help increase transparency.
