I actually read this news and didn't pay much attention to it, because Tether itself has a large amount of BTC, which may not necessarily be 100% purchased from the market. Tether is also the largest Bitcoin collateralized lending structure in the market, and the ultimate provider of PayPal used to be Tether. In addition, Tether promised last year to use 10% of its quarterly earnings (approximately) to purchase BTC in the market