In love with Bitcoin – A few days ago, Tetherthe company issuing the USDT stablecoinpublicly announced its strong reserves of $82 billion in assets. Within these assets, we discovered two stores of value. One, well known, was thegold and the precious metals (4% of reserves), and the other, a young safe haven: Bitcoin (BTC).
But the king of cryptos does not represent only 2% Tether reserves (i.e. still around 1.5 billion dollars). Never mind, this May 17, 2023, the USDT issuer announces that it will now invest 15% of its profits net operating income when buying bitcoins !
According Paolo Ardoinotechnical director (CTO) of Tether, this choice of Bitcoin is justified for “its strength and potential” as an investment asset, for his resilienceand for its status as a long-term store of value.
Tether will not call on a custodial intermediary of its crypto-assets. The issuer of the most valuable dollar stablecoins will observe the adage to the letter “not your private keys, not your cryptos”keeping its precious BTC on its own.
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