USDT Issuer Tether Will Allocate Up to 15% of its Profits into Bitcoin

Tether, the issuer of the world’s largest stablecoin, USDT, has announced that it will invest up to 15% of its profits into Bitcoin, shifting away from its current 85% of reserves held in cash, cash equivalents, and other short-term deposits.

The company has stated that it will regularly purchase and self-custody all of its Bitcoin holdings, and as of the end of the first quarter of 2021, its reserves already held $1.5 billion in Bitcoin, accounting for about 2%.

The news comes after Tether reported $1.5 billion in net profit for the first quarter of 2021, and it is now set to buy Bitcoin regularly and further increase its holdings.

Tether believes that Bitcoin is a great investment choice.