Tether CEO Paolo Ardoino has firmly denied recent speculation concerning the company’s Bitcoin holdings. In a post on X, he emphasized that Tether has not sold any of its Bitcoin and reaffirmed the firm’s ongoing strategy to allocate profits into diverse assets such as Bitcoin, gold, and land. This statement comes on the heels of comments made by YouTuber Clive Thompson, who had pointed to attestation data from BDO for Q1 and Q2 2025 as evidence of a decrease in Tether’s Bitcoin position. Thompson highlighted that the company’s Bitcoin holdings fell from 92,650 BTC in Q1 to 83,274 BTC in Q2, suggesting that this reduction was due to a sell-off.
However, Samson Mow, CEO of Jan3, contested this assertion. He clarified that during this period, Tether transferred a total of 19,800 BTC to a new initiative known as Twenty One Capital (XXI), led by Strike CEO Jack Mallers. This transfer included 14,000 BTC in June and another 5,800 BTC in July, which Mow explained means that Tether would have actually increased its holdings by 4,624 BTC by considering these transfers.
Ardoino echoed Mow’s clarification, reiterating that the Bitcoin was moved for strategic purposes, not sold off. He stated, “While the world continues to get darker, Tether will continue to invest part of its profits into safe assets.”
As of now, Tether holds more than 100,521 BTC, valued at around $11.17 billion, according to data from BitcoinTreasuries.NET.
Coinciding with these developments, El Salvador recently announced that it has acquired 13,999 troy ounces of gold, worth approximately $50 million, marking its first purchase of gold in over three decades. The nation aims to diversify its foreign reserves and reduce its dependence on the US dollar. Prior to this move, El Salvador had built a significant Bitcoin reserve, holding 6,292 BTC. However, a report from the International Monetary Fund in July indicated that the Central American country had not made any new Bitcoin purchases since February.
These events unfold as the broader cryptocurrency market continues to adapt and react to varying economic conditions and regulatory landscapes.
