Tether increases bitcoin reserves by 7,629 BTC, reaching 82,983 BTC, and continues the strategy of allocating 15 percent of profits to bitcoin purchases, despite criticism of MiCA 📈

Tether acquired 7,629 bitcoins for approximately 705 million dollars, increasing its reserves to 82,983 BTC, amounting to 7.68 billion dollars. This move continues the company’s strategy of allocating 15 percent of profits to the purchase of bitcoins. Tether has been steadily increasing its assets since May 2023, aiming to diversify its reserves. The company also criticizes the EU’s MiCA requirement of 30 percent reserves in stablecoins for traditional institutions, emphasizing the importance of flexibility in reserve management.