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Tether announces its vision to acquire bitcoin and invest part of its profits in it

Tether, the company responsible for the largest stablecoin in the digital economy of cryptocurrencies, announces its strategic vision for the acquisition of bitcoin (BTC) using its profits. The company said in a blog post that it will regularly allocate up to 15% of its net operating profit earned to the purchase of bitcoin from this month. The stablecoin issuer also added that it expects that its current and future bitcoin bookings will not exceed capital protection and will strengthen and diversify its bookings.

Prior to the announcement, the company’s latest certification report revealed that there were 1.5 billion dollars in its bitcoin bookings. The report also noted that a significant share of Tether bookings, amounting to 3.39 billion dollars, is invested in precious metals. The company stressed in its announcement on Wednesday that this investment reflects its confidence in bitcoin as a strong store of value. Paolo Arduino, CEO of Tether, said: “bitcoin has continuously proven its resilience and has emerged as a long-term value store with great growth potential . The limited supply, decentralized nature and widespread adoption of bitcoin have positioned it as a preferred choice among institutional and retail investors alike,”he said.

Tether’s announcements come at a time when the stablecoin USDT is heading towards the peak of market capitalization. On May 8, 2022, USDT achieved its highest ever market capitalization of USD 83.279 billion. At the moment, it is very close to that peak, with a value of 82.67 billion dollars. With the aim of maintaining the growth trajectory of the stablecoin issuing company, the company stressed that the integration of bitcoin is a crucial step.

Tether concluded in its announcement on Wednesday that by integrating bitcoin into its investment strategy, it aims to exploit the potential growth of digital assets, while leveraging its position as a reliable provider and provider of financial infrastructure.

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