Tether, a big name in digital money, has been buying a lot of Bitcoin. They recently bought 8,888 more Bitcoins, which cost about $380 million. Now, they have 66,465 Bitcoins, worth about $2.8 billion. This isn’t the first time Tether has bought Bitcoin. They started in September 2022 with a big buy of 33,980 Bitcoins. Since then, they keep buying more every few months. Tether plans to use some of its profits, up to 15%, to buy more digital currencies like Bitcoin.
Tether and Bitcoin Mining
Tether is doing more than just buying Bitcoin. They are also putting money into Bitcoin mining, which is how new Bitcoins are made. They plan to spend $500 million to build places for mining Bitcoin. This shows they are serious about being part of the Bitcoin world. Tether also helped a company called Northern Data AG, which mines Bitcoin, by lending them money and buying part of the company.
Conclusion: Tether’s Role in Digital Money
Tether is making big moves in the world of Bitcoin and digital money. By buying a lot of Bitcoin and investing in Bitcoin mining, Tether is showing that they believe digital money is important. They are not just keeping Bitcoin; they are also helping to make more of it. This shows that Tether is a big player in making digital money more popular and important in the world of money and business.
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Source: https://cryptoticker.io/en/tether-now-holds-2-8-billion-worth-of-bitcoin/