Tether CEO Paolo Ardoino has addressed recent speculation, firmly denying that the stablecoin issuer sold any of its Bitcoin holdings to purchase gold.
Tether reaffirms bitcoin investment strategy
In a post on X, Ardoino stated:
“[Tether] didn’t sell any Bitcoin.”
He reaffirmed its strategy of allocating profits into assets like “Bitcoin, gold, and land.”
This response came after YouTuber Clive Thompson pointed to a decrease in Tether’s reported Bitcoin position from 92,650 BTC in Q1 to 83,274 BTC in Q2, suggesting a possible sell-off.
Transfers to Twenty One Capital clarified
Jan3 CEO Samson Mow clarified the situation, noting that Tether had transferred 19,800 BTC to the Bitcoin-native financial platform Twenty One Capital (XXI), not sold them.
The transfer included 14,000 BTC in June and another 5,800 BTC in July. Mow explained:
“Tether would have had 4,624 BTC more than at the end of Q1 if the transfer is accounted for.”
Tether’s official data shows it holds over 100,521 BTC, valued at around $11.17 billion.
El Salvador diversifies reserves
Meanwhile, El Salvador’s central bank announced the acquisition of 13,999 troy ounces of gold worth $50 million, its first gold purchase since 1990.
The move is part of a broader reserve diversification strategy, reducing reliance on the US dollar.
The country previously built a $700 million bitcoin reserve, holding 6,292 BTC.
