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Tether Says It Invested Some of Its Reserves Into Bitcoin and Other Assets

Published 05/21/2019, 03:25 PM
Updated 05/21/2019, 03:42 PM
Tether Says It Invested Some of Its Reserves Into Bitcoin and Other Assets

Stablecoin issuer Tether said that it had invested some of its reserves in bitcoin (BTC), according to a court filing obtained by tech-focused media outlet the Block on May 21.

Per the document dated May 16, David Miller, an attorney for Tether’s associated firm Bitfinex, said that Tether invested “a small amount” of Tether’s reserves into bitcoin, specifying that “prior to the April 24th order … Tether actually did invest in instruments beyond cash and cash equivalents, including bitcoin, they bought bitcoin.” Miller further said that Tether made “other investments, including purchasing other assets.”

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