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Tether’s Bitcoin (BTC) holdings reportedly grew by an additional $70 million in the second quarter of 2023.
According to the most recent attestation by the USDT stablecoin issuer, the value of its BTC portfolio, which stood at $1.5 billion in the first quarter of the year, has shot up to $1.67 billion.
As per Bitcoin prices in Q1, Tether held 52,698 BTC, which, adjusting for June’s Q2 prices, escalated to 55,008, implying an addition of 2,310 BTC to its holdings.
Despite this significant increase, Tether has failed to uphold its public commitment declared in May. The company announced that in the future, it would invest 15% of its net profits in Bitcoin to diversify its reserves.
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