Tether Holds More Gold than Bitcoin as Q1 Profit Swells to $1.48B

Tether, the largest issuer of stablecoins, closed the first quarter of 2023 with a net profit of $1.48 billion, which doubled from the $700 million it generated in the previous quarter. The company confirmed that its token circulation also jumped by 20 percent.

According to the consolidated reserve report, signed by accounting firm BDO Italia, Tether’s total assets at the end of March stood at $81.8 billion, the majority of which are in US Treasury Bills.

The stablecoin issuer also holds $1.5 billion in Bitcoin
Bitcoin

While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that

While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term and $3.4 billion in gold on its balance sheet, 2 percent and 4 percent of its total reserve, respectively. It is the first time Tether has revealed its Bitcoin and gold holdings.