The Bahamas Deltec Bank, known for holding Tether reserves to back up USDT, bought “a large amount of bitcoin” for its clients in the summer.
The fact that the bank holds a large position in bitcoins, said the director of information technology of Deltec Bank Hugo Rogers (Hugo Rogers). He stated that the bank faces difficult challenges and always chooses the best solution:
“We maintain a very significant position for our beneficiaries. In addition to gold, we bought a large volume of bitcoins, an asset that has received a lot of attention lately. The purchase price for BTC was about $ 9,300, so the investment performed well in 2020 and we expect the trend to continue in 2021 as the process of printing fiat money continues. ”
The exact date of the purchase of the coins was not disclosed, but at $ 9,300, the first cryptocurrency was last traded at the end of July.
In 2018, Deltec Bank confirmed that it had $ 1.8 billion in accounts held by Tether. Since then, the capitalization of USDT has grown to $ 24 billion, but Tether has no longer provided confirmation of the collateral for the stablecoin.
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