Tether Buys 52,670 Bitcoins in Q1, Set To Outpace MicroStrategy
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- Tether used some of its profits to buy about 52,670 Bitcoins in Q1, 2023.
- The stablecoin issuer could outpace MicroStrategy if it sustains accumulation strategy and pace.
- Tether accrues interest on US treasuries while paying their depositors 0%.
Tether used some of its profits to buy about 52,670 Bitcoins in Q1, 2023. Samson Mow, CEO of JAN3, believes the stablecoin issuer could achieve a baseline of nearly 200,000 coins per year and outpace MicroStrategy if it sustains this accumulation strategy and pace.
The financial analyst that goes by ‘girevik’ on Twitter highlighted Tether’s recent report of earning almost $1.5 billion as a profit in Q1, 2023. The analyst explained Tether accrues interest on US treasuries while paying their depositors 0%. Hence, rising interest rates profit the stablecoin issuer.
In essence, girevik deduced that the Fed and US Treasury are the ones subsidizing Tether’s Bitcoin pu…
The post Tether Buys 52,670 Bitcoins in Q1, Set To Outpace MicroStrategy appeared first on Coin Edition.
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Tether Buys 52,670 Bitcoins in Q1, Set To Outpace MicroStrategy
Share:
- Tether used some of its profits to buy about 52,670 Bitcoins in Q1, 2023.
- The stablecoin issuer could outpace MicroStrategy if it sustains accumulation strategy and pace.
- Tether accrues interest on US treasuries while paying their depositors 0%.
Tether used some of its profits to buy about 52,670 Bitcoins in Q1, 2023. Samson Mow, CEO of JAN3, believes the stablecoin issuer could achieve a baseline of nearly 200,000 coins per year and outpace MicroStrategy if it sustains this accumulation strategy and pace.
The financial analyst that goes by ‘girevik’ on Twitter highlighted Tether’s recent report of earning almost $1.5 billion as a profit in Q1, 2023. The analyst explained Tether accrues interest on US treasuries while paying their depositors 0%. Hence, rising interest rates profit the stablecoin issuer.
In essence, girevik deduced that the Fed and US Treasury are the ones subsidizing Tether’s Bitcoin pu…
The post Tether Buys 52,670 Bitcoins in Q1, Set To Outpace MicroStrategy appeared first on Coin Edition.
In This News
Coins
$ 89.67K
+0.59%$ 1.00008
-0.01%Share:
In This News
Coins
$ 89.67K
+0.59%$ 1.00008
-0.01%Share:
Read More
Why Is Crypto Down Today? – December 15, 2025