Tether Commits to Regularly Buying Bitcoin with Profits.

Tether, the issuer of the largest stablecoin on the market, USDT, has announced that it will use a portion of its profits to regularly buy Bitcoin for its stablecoin reserves, starting this month. The company will allocate up to 15% of realized profits from investments to purchase BTC and will custody the stash on its own. Tether aims to strengthen and diversify its stablecoin reserves while capitalizing on Bitcoin's price appreciation as an investment. The move comes after Tether revealed that it holds $1.5 billion of BTC and $3.4 billion of gold among the assets that back the value of USDT and its smaller stablecoins.