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Tether spent $735 million in Q1 as part of its ongoing strategy to allocate profits into Bitcoin, bolstering reserves and reporting record gains.
What’s the Scoop?
- Massive BTC Allocation: Tether purchased $735 million worth of
Bitcoin in Q1, further enhancing its Bitcoin reserves. - Financial Strategy: The stablecoin issuer allocates up to 15% of its net realized operating profits into Bitcoin and gold.
- Record-Breaking Performance: Mark-to-market gains from Bitcoin and gold helped Tether achieve a record-breaking quarter.
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