Bill Pierce is involved in a real estate dispute in Puerto Rico and is seeking compensation of 80 million dollars

According to Bloomberg, Brock Pierce, co-founder of the cryptocurrency Tether, is seeking $80 million in compensation in a real estate dispute in Puerto Rico.

Pierce stated that he moved to Puerto Rico in 2017 with the intention of turning it into a cryptocurrency hub with generous tax benefits. Since then, companies associated with Pierce have purchased at least six properties in Puerto Rico for a total price of approximately $35 million. A spokesperson for Pierce stated that his overall expenses on real estate were "significantly higher," but declined to provide specific figures.