Revealing the Tether Bitcoin Strategy: An Exceptional $1.1 Billion Profit from the Recent Price Upsurge
The Tether Bitcoin strategy profit has yielded a remarkable $1.1 billion in unrealized gains, following the recent price upswing of Bitcoin. The cryptocurrency briefly surpassed the $42,000 mark, marking a noteworthy 13.1% increase over the past week. The surge from the Tether Bitcoin strategy has resulted in substantial profits for Tether, given its substantial holding of 57,576 BTC, bought at an average price of $22,480 per Bitcoin. Of Tether’s total Bitcoin holdings, 53,492 BTC were set aside before March 2023, and a strategic decision was made in May 2023 to continuously invest up to 15% of the company’s net realized profits into Bitcoin. This decision aligns with Tether’s long-term investment vision and its strategy to expand its portfolio beyond traditional assets. In addition, Tether is not only increasing its Bitcoin holdings but also heavily investing in the Bitcoin mining sector. The company plans to allocate $500 million for the establishment of Bitcoin mining facilities and investments in existing BTC mining businesses. This aggressive investment approach highlights Tether’s belief in the potential of Bitcoin as a resilient, long-term investment asset.