With the amount of profits they produce per quarter, they could end up being one of the largest holders of bitcoin in the world within a few years assuming tether continues to grow.

Crazy. Is tether the Trojan horse to fiat money?

US gov will put a stop to that eventually. You have to think they will embrace stablecoins in order to dollarize (and export inflation to) the world. But they'll kill two (three?) Birds with one stone by regulating requirement for full reserves of US Treasuries ONLY.

this is as of Q1 2023, their blog post can be found here: https://tether.to/en/tethers-latest-q1-2023-assurance-report-shows-reserves-surplus-at-all-time-high-of-244b-up-148b-in-net-profit-new-categories-for-additional-transparency-reveals-bitcoin-and-gold-allocations/

so like 50k bitcoin... not great, not terrible