Tether Denies Bitcoin Selloff Rumors
Tether CEO Paolo Ardoino has denied recent rumors that the stablecoin issuer is selling its bitcoins to buy gold.
In a Sunday post on X, Ardoino said the company did not sell any bitcoin and reiterated its strategy of spreading profits across assets such as bitcoin, gold and land.
The comments came in response to speculation from YouTuber Clive Thompson . He cited BDO's data from Tether's Q1 and Q2 2025 earnings, claiming that the company had reduced its Bitcoin holdings. Thompson pointed to the drop from 92,650 BTC in Q1 to 83,274 BTC in Q2 as evidence of a sell-off.
However, Jan3 CEO Samson Mow refuted this claim, noting that Tether transferred 19,800 BTC to a separate project called Twenty One Capital (XXI) during the same period. This includes 14,000 BTC sent in June and another 5,800 BTC sent in July.
Tether CEO Denies Bitcoin Selloff Rumors Source: Paolo Ardoino
Tether Transfers $3.9 Billion in BTC to 21st Century
In early June, Tether moved more than 37,000 BTC worth about $3.9 billion in multiple transactions to support XXI. The Bitcoin-based financial platform is led by Strike CEO Jack Mallers.
If this transfer were included, Tether would have 4,624 BTC more than it had at the end of the first quarter, Mow explained, adding that the company actually increased its net assets.
Ardoino echoed that explanation, saying the bitcoins were moved, not sold. As the world continues to get darker, Tether will continue to invest some of its profits in safe haven assets, he wrote.
According to BitcoinTreasuries.NET, Tether, the issuer of the USDT stablecoin, holds more than 100,521 BTC worth about $11.17 billion.
Tether holds over 100,000 BTC. Source: BitcoinTreasuries.NET
El Salvador Buys $50 Million in Gold
Rumors of a Tether Bitcoin sell-off emerged after El Salvador announced it had added 13,999 troy ounces of gold worth $50 million to its foreign exchange reserves, marking its first gold purchase since 1990. The central bank said the move was part of a diversification strategy aimed at reducing its reliance on the U.S. dollar.
Before switching to gold, El Salvador had built up a $700 million Bitcoin reserve, containing 6,292 BTC. However, a July report from the International Monetary Fund claimed that the Central American country had not purchased any Bitcoin since February.
Source: cryptonews.net
