Should We Worry About Tether's Bitcoin Buying Plan?

The issuer of the largest stablecoin, USDT, better known simply as Tether, announced it will be regularly buying Bitcoin with its surplus profits to build up its war chest. This follows a surprisingly robust attestation showing Tether netted $1.48 billion in profits for just the first quarter of this year. The firm's excess of reserves, as they describe them, has doubled to $2.4 billion which I think would be included in the $81.8 billion in consolidated total assets. It could also be seen as an attempt to de-risk its exposure to the US dollar.