07.09.2025 19:23

Amid swirling rumors, Tether's CEO, Paolo Ardoino, has addressed allegations that the company divested its Bitcoin holdings in favor of gold. Via a statement made on X, Ardoino refuted the claims, asserting that Tether has not sold any Bitcoin.

The speculation arose after analyst Clive Thompson scrutinized Tether's audit reports, suggesting a decline in the company's BTC reserves and a potential shift toward gold. However, this interpretation was challenged by analyst Samson Mow, who pointed out that Thompson's analysis was based on incomplete data.

Mow presented data illustrating that while Tether's Bitcoin holdings appeared to decrease from 92,650 BTC in the first quarter of 2025 to 83,274 BTC in the second quarter, the company had actually allocated 19,800 BTC to its XXI initiative during that same period. Consequently, factoring in this allocation, Tether's net Bitcoin assets actually increased by 4,624 BTC in the second quarter, with an additional increase of at least 10,424 BTC when including July transfers, according to Mow.

Ardoino corroborated Mow's assessment, clarifying that Tether had merely transferred a portion of its assets to the XXI initiative. Echoing a bullish sentiment, Ardoino emphasized Tether's commitment to investing its profits in secure assets like Bitcoin, gold, and land, particularly as global uncertainty rises. These statements were reported by internet sources.