Tether Investments, the venture arm of the Tether group, has reported a significant increase in its net equity value, rising from $6.2 billion in the previous quarter to $7.7 billion. The company has been expanding its investments in various sectors, including energy, mining, and artificial intelligence. Additionally, Tether disclosed that it owns 7,100 bitcoins (BTC), valued at nearly $500 million.
This growth in Tether’s investments and holdings demonstrates the company’s continued expansion and diversification of its assets. By venturing into new industries and holding a substantial amount of bitcoin, Tether is positioning itself for future growth and stability.
Source:
– Tether blog post: https://tether.io/news/tether-hits-7-7-billion-2024-nine-month-profits-102-5-billion-in-u-s-treasury-holdings-almost-120-billion-usd%e2%82%ae-circulation-and-an-over-6-billion-reserve-buffer-in-q3-2024-attestation/
– CoinDesk article: https://www.coindesk.com/business/2024/10/31/tether-reports-25b-profit-in-q3-holds-over-100b-of-us-treasuries/?utm_medium=referral&utm_source=rss&utm_campaign=headlines