### Tether has recently announced that the company plans to allocate 15% of its net profit towards purchasing Bitcoin, a move aimed at diversifying its reserves and solidifying its position in the market.

<blockquote className="twitter-tweet">Tether🧡<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> 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 👉 <a href="https://t.co/7zC2swgwWH">https://t.co/7zC2swgwWH</a> <a href="https://t.co/BOcSDjjmDf">pic.twitter.com/BOcSDjjmDf</a>— Tether (@Tether_to) <a href="https://twitter.com/Tether_to/status/1658805845340180480?ref_src=twsrc%5Etfw">May 17, 2023</a></blockquote>



With the USDT token designed to maintain a 1:1 parity with the US dollar, Tether aims to bolster the stability and value of its offering by investing in the world's most prominent cryptocurrency. According to Tether's attestation report, which revealed a net profit of $1.48 billion, this allocation would amount to approximately $222 million.



Currently, USDT boasts an impressive total supply of over $82.8 billion in circulation according to CoinMarketCap, making it the dominant stablecoin in the market.



Paolo Ardoino, the Chief Technology Officer of Tether, explained that the Bitcoin purchases would represent only a fraction of the company's net profit, with the majority of funds dedicated to operational expenses such as bank fees. This move highlights Tether's confidence in the future of Bitcoin and its desire to adapt to the evolving landscape of the crypto market.



As Tether ventures into the world of cryptocurrency investment, it sets a precedent for other stablecoin issuers and demonstrates the increasing convergence between stablecoins and digital assets. With this strategic move, Tether aims to solidify its position as a trusted and forward-thinking player in the crypto industry.

Tether has recently announced that the company plans to allocate 15% of its net profit towards purchasing Bitcoin, a move aimed at diversifying its reserves and solidifying its position in the market.

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Tether Announces 15% Of Profits To Be Funneled Into Bitcoin Acquisition, Sparking Crypto Revolution