Tether buys bitcoin with a portion of its net profit to back USDT stablecoin

$Tether(USDT.CC)$ Tether said it would invest 15% of its net profit into $Bitcoin(BTC.CC)$ to "diversify" the reserves that back its USDT token, which aims to stick to a 1-to-1 peg to the U.S. dollar.
That would amount to roughly $222 million, based on the company's last attestation report, which said the company generate $1.48 billion of net profit.
USDT is the largest stablecoin in the market, with a circulating supply of more than $82.8 billion, according to CoinGecko data.