Tether CEO Refutes Bitcoin Sales Rumors, Reaffirms Long-Term Strategy

Tether’s Vision for Bitcoin Remains Intact

Tether CEO Paolo Ardoino has categorically denied allegations that the company has been offloading its Bitcoin (BTC) reserves to increase its gold holdings, dispelling concerns reverberating throughout the crypto community. Addressing the claims first reported by BeInCrypto on October 8, Ardoino reaffirmed Tether's unwavering commitment to Bitcoin and its optimistic long-term outlook for the leading cryptocurrency.

The Catalyst: Independent Analysis Claims Bitcoin Sell-Off

The controversy surrounding Tether emerged from assertions made by independent analyst Clive Thompson. According to Thompson, data from Tether's Q1 and Q2 2025 accounting, corroborated by BDO audits, suggested a decrease in Bitcoin holdings. He reported that Tether held 92,650 BTC at the end of Q1 2025, but the figure purportedly declined to 83,274 BTC by the close of Q2. This discrepancy led to the conclusion that Tether had sold Bitcoin to fund gold purchases.

Addressing the Data Gap: Disputes Over Bitcoin Movement

Samson Mow, the CEO of Jan3 and a prominent Bitcoin advocate, rebutted Thompson’s claims, providing additional context on missing transactions. According to Mow, Tether transferred approximately 20,000 BTC to its investment arm XXI during this period, a fact overlooked by Thompson in his analysis. Mow provided a detailed timeline via a post on social media platform X, formerly known as Twitter, stating:

"On June 2, 2025, Tether moved 14,000 BTC to XXI. Then in July, another 5,800 BTC was transferred. When this movement is considered, Tether's Bitcoin holdings at the end of Q2 2025 actually showed a net gain of 4,624 BTC compared to Q1. Including the July transfer, Tether’s total holdings grew by 10,424 BTC."

Ardoino supported Mow’s account, emphasizing that Tether had not conducted any Bitcoin sell-offs. Instead, the transfer to XXI forms part of Tether’s broader investment strategy, adding Bitcoin to secure assets such as gold and real estate. "Tether is built on financial stability, and our diversified portfolio demonstrates this commitment," Ardoino stated.

Gold Investments: Enhancing Stability

In recent years, Tether has made notable strides in bolstering its asset diversification strategies by increasing investments in gold. BeInCrypto estimates that the company currently holds $8.7 billion worth of gold, securely stored in facilities such as Zurich, Switzerland. This substantial allocation reflects a hedging strategy designed to counterbalance Bitcoin's volatility with the stability of traditional assets.

Balancing Bitcoin and Gold: Ensuring Long-Term Resilience

The coexistence of Bitcoin and gold investments within Tether's asset portfolio is part of a calculated strategy aimed at greater resilience in fluctuating markets. Although this dual approach has drawn criticism—and even skepticism from traditional gold mining sectors—Tether has continued to move forward confidently.

Tether has also extended its influence in gold through its gold-pegged stablecoin, XAUT. The asset allows cryptocurrency investors access to gold holdings on the blockchain, combining the stability of gold with the liquidity of digital finance. With a market valuation now exceeding $1.3 billion, XAUT ranks among the top 100 cryptocurrencies globally by market capitalization, further solidifying Tether’s role in bridging traditional and blockchain-based financial systems.

Bitcoin’s Ongoing Importance

Despite its diversification efforts, Bitcoin remains central to Tether's asset management strategy. Trần Hùng, a decentralized finance (DeFi) researcher, recently underscored this priority. Reflecting on discussions with CEO Paolo Ardoino, Hùng noted Tether’s ongoing acquisition of Bitcoin as a cornerstone of its financial framework.

Ardoino himself has dismissed recent accusations as baseless rumors. "The claim that we’re abandoning Bitcoin in favor of gold is nothing more than an attempt to spread fear, uncertainty, and doubt," he said. Ardoino even injected humor into the discussion, rhetorically adding, "What’s next? Will they claim that I put cream in my carbonara?"

Doubling Down on a Diversified Strategy

Undeterred by external speculation, Tether is pressing ahead with its hybrid asset model, which intertwines Bitcoin, gold, and real estate investments. This diversified approach, according to Tether, enhances its ability to withstand global economic turbulence and ensures sustained growth for its stakeholders.

By committing to Bitcoin, expanding its gold ventures, and integrating traditional and digital financial systems through innovations like XAUT, Tether is positioning itself as a leader within both crypto and traditional financial markets. Such a bold, diversified investment strategy reaffirms its resilience to navigate a volatile global environment confidently.