Is it safe to keep money in USDT?

I've been hearing a lot about USDT recently and am considering investing in it. But before I do so, I'd like to know, is it safe to keep money in USDT? I've heard rumors about it being backed by real dollars, but how reliable is that? Are there any risks associated with holding USDT? I'd appreciate it if you could provide some clarity on this matter. After all, I don't want to end up losing my hard-earned cash. Thank you for your time and assistance.