{"id":15451,"date":"2024-01-19T08:15:03","date_gmt":"2024-01-19T08:15:03","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=15451"},"modified":"2024-01-19T08:15:03","modified_gmt":"2024-01-19T08:15:03","slug":"tethers-bitcoin-holdings-now-valued-at-2-8-billion","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/01\/19\/tethers-bitcoin-holdings-now-valued-at-2-8-billion\/","title":{"rendered":"Tether&#8217;s Bitcoin Holdings Now Valued at $2.8 billion"},"content":{"rendered":"<p><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">Tether has purchased an additional 8,888 <\/span><span class=\"r-18u37iz\">Bitcoin<\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"> at an average price of approximately $42,000, bringing their total holdings to around 66,465 bitcoins.\u00a0<\/span><\/p>\n<p>Tether added to its bitcoin [BTC] holdings at the end of the fourth quarter, with BTC value for $380 million, as \u00a0reported by The Block.<\/p>\n<p><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">As a result, Tether&#8217;s Bitcoin holdings are now valued at $2.8 billion.<\/span><\/p>\n<p>An\u00a0address\u00a0associated with the company shows bitcoin holdings of 66,465, which makes it the 11th-largest holder of the cryptocurrency, according to a\u00a0ranking\u00a0by Dune Analytics.<\/p>\n<p>In an effort to shift away from cash and cash-like assets such as U.S. Treasury bonds backing its USDT stablecoin, Tether\u00a0announced\u00a0in May 2023 that it would start allocating as much as 15% of its profits into bitcoin. USDT is the world&#8217;s largest stablecoin with a market capitalization of\u00a0over $95 billion.<\/p>\n<p>In its\u00a0latest attestation report, Tether held $72.6 billion in government bonds and $1.7 billion in bitcoin, among other allocations.<\/p>\n<p>The company has long been under the microscope for the quality of its assets, but Cantor Fitzgerald CEO Howard Lutnick, whose firm acts as a custodian for Tether, this week reassured skeptics that\u00a0its holdings are legit.<\/p>\n<p>The Switzerland-based company first purchased bitcoin in September 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether has purchased an additional 8,888 Bitcoin at an average price of approximately $42,000, bringing their total holdings to around 66,465 bitcoins.\u00a0 Tether added to its bitcoin [BTC] holdings at the end of the fourth quarter, with BTC value for $380 million, as \u00a0reported by The Block. As a result, Tether&#8217;s Bitcoin holdings are now [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":15452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-15451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/15451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=15451"}],"version-history":[{"count":2,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/15451\/revisions"}],"predecessor-version":[{"id":15479,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/15451\/revisions\/15479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/15452"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=15451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=15451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=15451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}