Tether CEO Paolo Ardoino denied rumors that the company sold part of its Bitcoin holdings. In a statement on X, he said Tether “didn’t sell any Bitcoin” and continues to allocate profits into Bitcoin, gold, and land.
The response followed claims from YouTuber Clive Thompson, who cited BDO’s Q1 and Q2 2025 attestation reports. Thompson said Tether reduced its Bitcoin holdings from 92,650 BTC in Q1 to 83,274 BTC in Q2.
Ardoino rejected that interpretation. He clarified that the decline was not from sales but from transfers linked to other initiatives.
Samson Mow Clarifies Bitcoin Transfer
Jan3 CEO Samson Mow explained that Tether moved 19,800 BTC to a project called Twenty One Capital (XXI). The transfer included 14,000 BTC in June and 5,800 BTC in July.
Mow said this change caused the reports to appear as though Tether sold Bitcoin. He stressed that the assets were transferred, not liquidated.
“Tether would have had 4,624 BTC more than at the end of Q1 if the transfer is accounted for,”
Mow said. He added that the company’s overall Bitcoin holdings increased when including the moved coins.
Ardoino confirmed the explanation. He emphasized that Tether continues to invest profits into what he described as “safe assets.”
Tether Moves $3.9 Billion in Bitcoin to XXI
In early June, Tether moved over 37,000 BTC, worth about $3.9 billion, into XXI, a Bitcoin financial platform led by Strike CEO Jack Mallers.
The transfer showed Tether’s focus on supporting Bitcoin-based initiatives. XXI was created to develop financial services built directly on the Bitcoin network.
Tether’s decision kept the assets within its strategy of Bitcoin-backed projects. The Bitcoin holdings were not sold on the market but reallocated to strengthen new ventures.
Tether’s Current Bitcoin Holdings
According to BitcoinTreasuries.NET, Tether now holds more than 100,521 BTC, valued at about $11.17 billion. This makes Tether one of the largest corporate holders of Bitcoin worldwide.
The issuer of the USDT stablecoin continues to diversify reserves with Bitcoin,gold, and land. Reports also show that Tether has considered investing in the gold supply chain.
These holdings reflect the company’s broader approach of combining Bitcoin holdings with tangible assets like gold and real estate.
El Salvador Buys $50 Million in Gold
At the same time, El Salvador confirmed its central bank purchased 13,999 troy ounces of gold worth about $50 million. This was the country’s first gold acquisition since 1990.
The bank said the purchase is part of a diversification strategy to reduce dependence on the US dollar.
El Salvador also holds a Bitcoin reserve of about 6,292 BTC, valued at more than $700 million. However, a July report from the International Monetary Fund (IMF) stated that no additional Bitcoin purchases had been made since February 2025.
