Key Takeaways
- Tether acquired 8,889 BTC, increasing its reserves to over 75,000 BTC.
- The company is expanding into Bitcoin mining and AI technology.
- Tether aims to diversify its portfolio and set new industry standards in AI.
Tether has strengthened its Bitcoin reserves by acquiring 8,889 BTC.
This addition brings its total Bitcoin holdings to over 75,000 BTC, with a value exceeding $5.3 billion.
Expanding holdings and technological ventures
Tether received the Bitcoin from Bitfinex’s hot wallet on March 31, 2024.
The company is expanding its focus beyond stablecoins, venturing into Bitcoin mining and AI technology.
CEO Paolo Ardoino emphasized the strategic decision to invest in Bitcoin due to its potential as an investment asset.
The decision to invest in Bitcoin, the world’s first and largest cryptocurrency, is underpinned by its strength and potential as an investment asset.
Strategic diversification and innovation
Tether’s latest attestation report for Q4 2023 shows Bitcoin contributing $2.8 billion to its consolidated reserves.
The company is diversifying into various sectors, including AI, P2P telecommunications, and renewable energy production.
Tether aims to set new industry standards in AI technology and enhance innovation and accessibility.
