The Bahamian bank Deltec, of which the issuer of the stablecoin Tether is one of the clients, holds a “large position in bitcoin.” This was announced by investment director of Deltec Hugh Rogers, speaking about the most successful investments of the bank over the past year.
“We are in a very significant position to maximize monetization, including gold and commodities. It also includes a large position in Bitcoin, which has been getting a lot of attention lately. We bought bitcoin for our clients at a price of about $ 9,300. Thus, this investment proved to be very successful in 2020. We expect it to continue to perform well in 2021 as the liquidity crisis continues, ”he said.
At the specified rate, Bitcoin was last traded in mid-July.
In October 2018, Tether began servicing Deltec following a transfer of reserves from Puerto Rican Noble Bank. Deltec, for its part, confirmed its partnership with Tether in November 2018. In mid-2017, Tether had trouble with Wells Fargo, through which it was conducting dollar transactions when the latter began blocking them.
Deltec has been providing regulated financial services for over 70 years and is focused on serving the needs of private, corporate and institutional clients, according to Deltec’s website.
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