Tether, the world's largest stablecoin issuer, will invest 15% of its profits in Bitcoin as it shifts its reserves from US public debt to the cryptocurrency.

Tether will self-custody all the Bitcoin it owns, according to the company's statement. By the end of the first quarter, Tether held about $1.5 billion in bitcoin, representing about 2% of its reserves. The remaining approximately 85% is held in cash, cash equivalents and other short-term deposits - mainly Treasury bonds.

This information was announced days after Tether reported a net profit of $1.5 billion for the first quarter.

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