USDT and Bitcoin hand in hand? Since May 2023 the company Tetherissuer of the stablecoin USDTrevealed that she possesses significant amounts of bitcoins (BTC). The crypto-company also explained at the time that it would invest 15% of its profits in Bitcoin. New evidence of strong interest of Tether for the king of cryptos has also just surfaced.
Over 55,000 BTC at USDT issuer counter?
If it does not equal the 152,800 BTC hoard from MicroStrategythe group Tether actually seems to have amassed a nice chunk of hard-hitting bitcoins. It is sure X (Twitter) that Tom Wananalyst at 21[.]co, we explain that he thinks he has found the BTC wallet from Tether.
Indeed, according to the latest quarterly report of the company issuing the stablecoin USDT, dated June 30, 2023, the latter has approximately $1.68 billion worth of bitcoins. However, Tom Wan has found a Bitcoin wallet address which has precisely the equivalent of this sum (at the BTC rate on this date).
Tether would thus have a total of 55,022 bitcoinsand that would make the crypto-company the 11th biggest BTC holder. Its holdings in Satoshi Nakamoto’s invention have in any case increased by a value of 176 million dollars compared to the previous quarterly report at the end of March 2023.
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Tether Developers Finalize Bitcoin Mining Software
Another sign that Tether has a very strong interest in the most valuable of crypto-assets, the company is fully in the field of mining of Bitcoin. In addition to helping BTC green mining in El Salvador And in Uruguay via its subsidiary Tether Energythe company is also working on the software development of this vital activity for the consensus by proof of work (PoW) of the Bitcoin network.
He is the technical director (CTO) of Tether, Paolo Ardoinowho thus explains on X (Twitter) that the developers under his direction have developed computer codes aimed at better interacting with ASICs (computer machines specialized in crypto-mining). These lines of code would cover, in addition, several manufacturers :
“The Tether development team has almost finished creating javascript libraries to control and interact with WhatsMiners, Antminers and Avalon crypto-mining machines.
This is high quality work, super modular, very neat. (…)
It will eventually be extended to also cover the monitoring of energy production. (…)”
Tether therefore seems to be fully banking on the new digital gold what Bitcoin could become. Indeed, more and more managers of large funds and companies seem to think that the king of cryptocurrencies can become a safe investmentin other words, a real inflation protection fiat currencies. Even Larry Finkthe manager of the mega-fund BlackRock considers Bitcoin digital gold.
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