✉news BusinessCrypto first seen 3 d ago, last 2 d ago, peak #14
Tether holds 150,000 bitcoin worth $11.5 billion, CEO says
Original: Tether holds 150,000 bitcoin worth $11.5 billion, CEO Paolo Ardoino says
Tether, the issuer of the world's largest stablecoin, holds 150,000 bitcoin valued at roughly $11.5 billion, according to CEO Paolo Ardoino. The disclosure puts the company among the largest corporate bitcoin holders and highlights how much of its reserves are tied to the cryptocurrency. Observers in the crypto industry are weighing what the size of the position means for Tether's financial strength and exposure to bitcoin's price swings.
Why now: The CEO's disclosure of a massive bitcoin position draws attention to Tether's reserves and its exposure to crypto market moves.
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