Tether Mints $1 Billion in USDT, Paving the Way for Bitcoin’s Next All-Time High

Tether‘s USDT, the world’s largest stablecoin, has minted another $1 billion, raising its market capitalization to over $110 billion. This could potentially drive Bitcoin to new all-time highs. In the past 24 hours, Tether’s treasury minted $1 billion worth of USDT, bringing its annual total to $31 billion. According to a May 17 post from Lookonchain, this significant minting contributed to Bitcoin’s price rise from $27,000 to $73,000. Tether is also directly investing in Bitcoin. The company plans to invest 15% of its net profit in Bitcoin to diversify its stablecoin’s backing assets. As of March 31, Tether had acquired