Tether has just silently invested a part of their record-profits into BTC. They now hold $1.5b worth of BTC after just one quarter and are stillmaking $6B profits per year.

Recently we have got the quarterly report by Tether, which was also made by an independent auditor, giving it more reliability as Tether itself is not exactly that well trusted. In just one quarter they had reported $1,5B in profits, making them most profitably per-employee company worldwide. That tally was also not too far off from some of the biggest banks profits, with tens of thousands of more employees.

But the profits are nothing interesting to us, but instead it is their new balance sheet…

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New Balance Sheet of Tether for this Q1 2023

Here we can see a new entry which is Bitcoin, at over $1.5B. That is over 52k BTC, more than the 40k the US government is intending to sell over the whole year.

We can also expect a high percentage of that being bought this year as the last quarterly report did not include any “Bitcoin“, possibly all $1.5B were acquired just this quarter. That is nearly half of all MicroStrategy buys.

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Previous Balance Sheet, without Bitcoin

It is even more funnier as Tether is buying that BTC from their profits and they are getting their profits through interest earnings from the US Treasury, which has been going up due to the FED raising interest rates. So basically the FED has made it possible and financed for Tether to buy more Bitcoin.