Tether CEO Paolo Ardoino has dismissed rumors that the stablecoin issuer is selling its Bitcoin holdings to buy gold. In a Sunday post on X, Ardoino confirmed that the company “didn’t sell any Bitcoin” and reiterated its strategy of allocating profits into assets such as Bitcoin, gold, and land. The comments addressed speculation by YouTuber Clive Thompson, who cited Tether’s Q1 and Q2 2025 attestation data from BDO. Thompson suggested a reduction in Tether’s BTC holdings from 92,650 in Q1 to 83,274 in Q2 indicated a sell-off. However, Samson Mow, CEO of Jan3, clarified that the apparent decline was due to Tether transferring 19,800 BTC to a separate initiative called Twenty One Capital (XXI). This transfer included 14,000 BTC in June and another 5,800 BTC in July, meaning Tether’s net Bitcoin holdings actually increased when accounted for. In early June, Tether moved more than 37,000 BTC, valued at around $3.9 billion, to support XXI, a Bitcoin-native financial platform led by Strike CEO Jack Mallers. “Tether would have had 4,624 BTC more than at the end of Q1 if the transfer is accounted for,” Mow explained. Ardoino emphasized that the Bitcoin was moved, not sold, adding, “While the world continues to get darker, Tether will continue to invest part of its profits into safe assets.” Tether, which issues the USDT stablecoin, now holds over 100,521 BTC, valued at approximately $11.17 billion according to BitcoinTreasuries.NET. El Salvador Diversifies into Gold Tether’s Bitcoin rumors coincided with El Salvador announcing its first gold acquisition since 1990. The Central American nation added 13,999 troy ounces of gold, worth $50 million, to its foreign reserves as part of a diversification strategy to reduce reliance on the U.S. dollar. Previously, El Salvador built a $700 million Bitcoin reserve, holding 6,292 BTC, but a July IMF report indicated no new Bitcoin purchases since February. Ardoino’s statements aimed to reassure investors that Tether continues to hold and strategically allocate its cryptocurrency assets rather than liquidate them for other investments. This clarification comes amid ongoing scrutiny of stablecoin issuers’ holdings and their role in the broader crypto ecosystem. Tether’s approach reflects a mix of traditional and digital assets, balancing Bitcoin, gold, and real estate to manage risk and maintain liquidity.
