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Tether’s market capitalization reached $91 billion, excess stablecoin reserves reached $4 billion.

In a continuous rise, Tether (USDT) has cemented its dominance as the largest stablecoin, marking a new high in market capitalization, surpassing $91 billion. Paolo Ardoino, CEO of Tether, took to X (Twitter) to summarize the company’s achievements in 2023, highlighting their active participation in the cryptocurrency space. The company recently minted an additional $1 billion for future transactions on the Ethereum network, aiming to maintain market capitalization stability amid ongoing regulatory scrutiny.

Tether’s recent actions include purchasing Bitcoin for reserve, participating in mining, and putting $5 billion into circulation during October and November, fueling a strong recovery in the cryptocurrency market. Notably, the company has built a surplus fund in excess of $4 billion, generated by profits from Tether’s investment in US Treasuries. This fund acts as a buffer to keep USDT stable above 100%. Tether has further diversified its investments, funneling profits into Bitcoin and gold, which were worth $1.6 billion and $3.1 billion, respectively, as of September. Tether has more than 57 thousand bitcoins on its balance. In early December, it became known that Tether’s unrealized profit on investments in Bitcoin (BTC) at that time amounted to $1.1 billion.

Ardoino hinted at upcoming announcements, revealing plans for numerous investments and new products, setting the stage for the long-awaited 2024. The company’s strategic moves, coupled with Tether’s impressive market capitalization, highlight its key role in meeting growing demand in the cryptocurrency industry. Among other things, he recalled the deal with the German mining company Northern Data, which, according to him, talks about Tether’s “vision of artificial intelligence infrastructure.” According to the agreement, the company must spend about $420 million on 10 thousand graphics processors and exchange them for a 20% stake in Northern Data, which plans to lease these video cards to AI startups. Ardoino also noted that Tether Energy is investing heavily in the construction of mining sites in emerging markets and in the development of the Moria P2P/IoT platform for monitoring, analyzing and optimizing operations.

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