Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Tether CEO Paolo Ardoino stated that the company continues to accumulate <a href="https://xpertsstudio.com/us-jobs-report-sends-<a href="https://xpertsstudio.com/afd-state-election-win-raises-pressure-on-germanys-bitcoin-tax-fight/” title=”AfD state-election win raises pressure on Germany’s Bitcoin tax fight”>bitcoin-lower-as-fed-rate-hike-bets-rise/” title=”US Jobs Report Sends Bitcoin Lower as Fed Rate Hike Bets Rise”>Bitcoin and gold while pursuing its strategy of expanding the dollar network globally. In a recent interview, Ardoino noted that Tether provides dollar liquidity worldwide through $USDT and holds a significant amount of US Treasury bonds.
According to Ardoino, the company actively uses a portion of its operating profits to purchase Bitcoin and gold. The primary goal of this strategy is to protect Tether’s balance sheet against the potential devaluation of fiat currencies. The Tether CEO described Bitcoin as the foundation of all digital assets, arguing that cryptocurrency can provide natural inflation protection.
Tether’s use of company profits to purchase Bitcoin and gold is seen as part of its approach to diversifying its reserve structure. The company is expanding the global use of $USDT while also including different asset classes in its reserves.
Ardoino also stated that one of the key factors hindering Bitcoin’s global adoption is the generation gap. He noted that many of the world’s major decision-makers are over 60 years old, and that these individuals do not fully understand Bitcoin.
The CEO of Tether stated that central banks prefer to buy gold every day, and a similar approach towards Bitcoin has not yet emerged. However, he argued that younger generations understand Bitcoin better and have a natural inclination towards adopting the digital asset.
Ardoino stated that a generational shift is needed for Bitcoin’s role in the global financial system to strengthen. According to him, greater involvement of younger generations in the financial system could accelerate Bitcoin’s long-term and natural adoption.
*This is not investment advice.
Source: cryptonews.net