🤩 Tether to strengthen reserves with Bitcoin purchases.

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Let’s get straight into the top headlines of the day 👇

1. 🤑Tether'-ific Move- Tether to invest up to 15% of its profits in Bitcoin.

2. 👋Ditching the Dollar: Iraq's economic patriotism puts Dinar in the spotlight.

3. 👀Reality Check: CFTC chair says that DeFi platforms will be regulated, even if just code.

   

Tether bets big on Bitcoin 💰 

Tether, the issuer of the world's largest stablecoin $USDT, boldly ventures into the bitcoin realm. Seeking to diversify it/s reserves and step away from U.S. government debt, Tether plans to allocate up to 15% of its profits to the world’s largest cryptocurrency 😎

With an impressive net profit of $1.5 billion for the first quarter, Tether aims to further bolster its position by regularly purchasing Bitcoin. The company already holds $1.5 billion in BTC, approximately 2% of its reserves.

This move aligns with their belief in Bitcoin as a sound investment choice, backed by a decade-long track record of remarkable returns 👍

It also re-enforces investors' confidence in Bitcoin for the long-term, making it clear that it is no longer a speculative asset as it was once considered to be!

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