Tether holds 83700 Bitcoin, accounting for 0.4% of the total Bitcoin supply
BlockBeats News: On February 13th, Tom Wan, a strategy analyst at 21.co, posted on social media that Tether holds 83700 bitcoins (approximately $8 billion), accounting for 0.4% of the total bitcoin supply. Previously reported, JPMorgan analysts stated that in order to comply with the proposed stablecoin regulations in the United States, Tether may need to sell some non compliant assets, including Bitcoin, precious metals, corporate notes, and secured loans. The United States has proposed two stablecoin bills - the Stable Act in the House of Representatives and the GENIUS Act in the Senate, aimed at regulating stablecoin issuers through licensing requirements, risk management rules, and 1:1 reserve support. According to the STANLE bill in the House of Representatives, only 66% of Tether's reserves meet the requirements, while according to the GENIUS bill in the Senate, the eligible reserve ratio is 83%, "wrote a team led by JPMorgan analyst Nikolaos Panigirtzoglou in a report on Wednesday. It is worth noting that analysts indicate that both numbers indicate a decrease in Tether's compliance ratio since mid-2024, as the supply of stablecoins has surged.