Replying to Avatar Bitcoin

Tether just announced they will be allocating up to 15% of their net profit into $BTC monthly.

In Q1 Tether_to made a net profit of $1.48B.

Assuming the net profit stays the same, that means they will be buying ~$74M USD worth or about 2775 $BTC each month going forward.
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Bud 2y ago

Hmmmm, now where have I heard of another stablecoin talking about how much Bitcoin it would buy?

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PocketCow 2y ago

It's not algorithmically backing USDt though. Personally, I'm surprised Tether is only now investing their excess profits in an asset that can't be confiscated.