The stablecoin issuer Tether is reportedly not selling its Bitcoin holdings to purchase gold, according to CEO Paolo Ardoino. Moreover, Ardoino said in a Sunday X post that the business “didn’t sell any Bitcoin,” and he restated the plan to invest the money in “Bitcoin, gold, and land.”
The remarks were made in reaction to claims made by YouTuber Clive Thompson. Who used BDO’s attestation data for Q1 and Q2 2025 to suggest that Tether had cut its Bitcoin holdings. The decline from 92,650 BTC in Q1 to 83,274 BTC in Q2 was cited by Thompson as proof of a sell-off.
Nevertheless, Jan3 CEO Samson Mow disproved the assertion by pointing out that concurrently, Tether sent 19,800 BTC to an independent project named Twenty One Capital (XXI). Included in the total were 14,000 BTC transferred in June and 5,800 BTC sent in July.
To back XXI, a Bitcoin-native financial platform led by Strike CEO Jack Mallers, Tether sent over 37,000 BTC, or over $3.9 billion, in many transactions in early June. According to Mow, if the move is taken into consideration, Tether would have owned 4,624 BTC more than it had at the end of Q1. And the business really raised its net holdings.
According to Ardoino, the Bitcoin was transferred rather than sold, as previously explained. He said that even if the world is becoming darker, Tether would keep investing some of its income in secure assets.
The USDT stablecoin’s issuer, Tether, has more than 100,521 BTC, or around $11.17 billion, according to statistics from BitcoinTreasuries.NET. The news that El Salvador had added 13,999 troy ounces of gold, valued at $50 million, to its foreign reserves, marking its first gold purchase since 1990, coincided with reports that Tether’s Bitcoin will be sold off.
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