Tether Increases Bitcoin Holdings to 66,000 Coins, Achieving a Remarkable 79% Return Rate

According to previous reports, Bitfinex, the sister company of leading stablecoin Tether, holds Bitcoin as part of its reserve. Tether’s Q3 2023 reserve report revealed that the company held approximately 1.66 billion US dollars worth of Bitcoin, which is equivalent to around 61,553 Bitcoins based on the market value of $27,000 at that time. Tether also announced that starting from May 2023, it will allocate up to 15% of its realized net operating profits (such as realized US dollar gains from treasury bills) each month to purchase Bitcoin. Tether stated that purchasing Bitcoin is part of its conservative and prudent investment strategy aimed at strengthening, increasing, and diversifying its reserves.