Hello friends,
We are watching something very important happening in the Bitcoin ecosystem. Tether, the biggest stablecoin in the world, is not only backing its USDT with traditional reserves, but also becoming one of the largest buyers of Bitcoin.
In the last 12 months, Tether added more Bitcoin to its reserves than almost all ETFs, except three of them. According to Paolo, the founder, Tether ❤️ Bitcoin. And the numbers prove it. They bought more BTC than most institutional vehicles that were launched in the US market this year.
The data from Farside shows the comparison. iShares IBIT is obviously the leader, with more than 390k BTC in flows. Then we have another ETD (which I don't know which one is) and Fidelity’s FBTC. But right after them comes Tether, not only adding to its reserves, but also supporting XXI, which now is the third largest Bitcoin Treasury company in the world, only behind MicroStrategy and Marathon.
This is not small detail. It shows that stablecoin issuers are not just neutral players in the market. They are accumulating sound money as part of their balance sheet. It means Tether is reducing exposure to fiat risk, and at same time creating long-term protection with the hardest asset available.
For Bitcoin, this is another confirmation of its role as global reserve. The fact that a company who already dominates dollar liquidity in crypto is now building a treasury in Bitcoin tells a lot about the direction of the industry.
Many people used to doubt Tether, saying it was fragile or backed by nothing. But here we are, seeing Tether not only survive every FUD but also emerge as a strategic Bitcoin holder. The message is clear, stablecoins are short-term instruments, but Bitcoin is the foundation. There is a black hole flowing constantly to Bitcoin, stablecoins are the door to the cryptocurrency world, and are going to Bitcoin.
I love to be alive at this point in time! history is being made. Stay safe out there!
Posted Using INLEO