The financial advisory and accounting firm also revealed that Tether held roughly $3.4 billion worth of precious metals.
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BDO Italia’s latest attestation report for Tether revealed that Bitcoin made up approximately $1.5 billion of the stablecoin issuer’s reserves, or roughly 2% of the total, at the end of the first quarter. The accounting firm did not list Bitcoin (BTC) as a line item in previous reports.
Without much fanfare, Tether has started reinvesting some of their profits/excess reserves into Bitcoin. How much have they acquired in Q1, you ask? Just around 52,670. pic.twitter.com/NI3N0oICOz
— girevik (@girevik_) May 10, 2023
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Precious metals were also given their own line item in the report, revealing that Tether (USDT) holds around $3.4 billion worth of
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