In January, The Block portal reported that the issuer of the largest stablecoin, Tether, had purchased bitcoins (BTC) worth about $2.8 billion.
The company announced in the spring of 2023 that it would allocate up to 15% of its corporate profits to buying the digital currency.
According to Arkham Intelligence, USDT issuer USDT recently purchased $627 million worth of BTC on the Bitfinex exchange.
Tether CEO Paolo Ardoino confirmed that his company will not abandon its accumulation strategy. The team plans to systematically go to exchanges and invest in the largest digital currency.
According to the most recent data, Tether’s reserves in bitcoins by the end of last year reached $7.5 billion.
Earlier it also became known that Tether placed a batch of USDT tokens in the Celo network. As of April 1, the market capitalization of stablecoin was $104.54 billion.