Tether plans to invest up to 15% of its profits in bitcoin, as the stablecoin developer shifts its reserves toward crypto and away from US government debt
- Tether is set to purchase bitcoin on a regular basis from its profits. — It held $1.5 billion in bitcoin as of the end of the first quarter …
The Block Yogita Khatri
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Discussion
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@tether_to
@tether_to
on x
Tether🧡#Bitcoin Starting this month, Tether will regularly allocate up to 15% of its net realized operating profits towards purchasing Bitcoin. These Bitcoin shall be considered on top of the minimum reserves assets that 100% back tether tokens. More 👉 https://tether.to/... [vide…
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@paoloardoino
Paolo Ardoino
on x
Transparency is king. @Tether_to today has 2.5B+ USD (equivalent) in company own excess reserves. What company own excess reserves mean? It means that Tether, on top of the 100% reserves necessary to back issued tokens, has currently 2.5B+ USD (equivalent) more. This accounts... …
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@davidbelle_
David Belle
on x
I wonder if anyone can work out the obvious folly here https://twitter.com/...
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@waynevaughan
Wayne Vaughan
on x
Tether could be this Bitcoin cycle's Microstrategy. The company plans on investing 15% of profits in Bitcoin. https://twitter.com/...
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@fewseethis
Few
on x
these are great news all around. if you have ptsd because of the $luna fiasco, you are exemplifying what a bear market does to many people's brains. this is practically the exact opposite! the disbelief is quite a sight. #bitcoin for the win! https://twitter.com/...
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@alistairmilne
Alistair Milne
on x
Tether will be buying ~$420mil of Bitcoin each year, or $35mil/month This will increase if/when their AUM grows but is obviously very interest rate dependent Having a larger buyer DCA'ing in non-stop at a constant rate has never been seen before & should underpin the market
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@wclementeiii
Will Clemente
on x
Tether rolling 15% of its profit into Bitcoin essentially transmutes demand for US dollars into Bitcoin. Pretty cool.
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@ben_mckenzie
Ben McKenzie
on x
This will end well https://twitter.com/...