Will the US Default on Its Debt? Circle Ditches Treasuries and Tether Buys BTC
The Breakdown
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Tether's Bitcoin Buying Strategy
Tether said it would only be purchasing Bitcoin from realized profits disregarding unrealized capital gains. The firm also said that they would be taking possession of their own private keys rather than using a third-party custodian. Tether decided to maintain this excess reserves as part of its portfolio to add additional cushion and stability to its stablecoin products. This is 100 percent different from Luna Foundation, where a huge portion of Terra Luna collateral itself was held in Bitcoin.
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