One of the oldest cryptocurrency exchanges, Bitfinex, is investing its profits into Bitcoin (BTC) and holding them on its balance sheet as a “long-term commitment” to the original cryptocurrency. This news came to light after a tweet from Bitfinex’s CTO, Paolo Ardoino, in which he hinted that the exchange had reinvested at least some of its profits into BTC.
Founded in 2012, the Bitfinex trading platform is closely associated with the issuer of the USDT stablecoin, Tether, which has also issued several other stablecoins backed by fiat currencies.
This year, Tether also added Bitcoin to its balance sheet, and now holds 54,000 BTC worth approximately $1.58 billion.
