Tether CEO Refutes Claims of Bitcoin Sales, Reaffirms Commitment to Safe Assets

Paolo Ardoino, CEO of Tether, the issuer of the leading stablecoin USDT, has refuted claims about the firm selling its Bitcoin (BTC) to invest in gold.

In a recent X post, he stated that the company did not sell any bitcoin. He further reaffirmed its strategy to allocate some of its profits to safe assets like Bitcoin, gold, and land.

Debunking Bitcoin Sales Claims

Ardoino’s comment was in response to speculation from YouTuber Clive Thompson, who claimed that Tether has been selling its bitcoin holdings to acquire gold. Thompson based his assertion on an examination of Tether’s statements of assets. According to him, the stablecoin issuer’s Bitcoin holdings dropped from 92,650 BTC in Q1 to 83,274 BTC in Q2. Thus, this suggests that Tether is dumping BTC in favour of gold, as per Thompson.

However, Jan3 CEO Samson Mow pointed out flaws in Thompson’s theory based on public data. He highlighted that Tether transferred 19,800 BTC to an initiative called Twenty One Capital (XXI) during the same period. This included 14,000 BTC sent in June and an additional 5,800 BTC in July.

Therefore, he explained that Thompson’s conclusion was flawed because it assumed Tether’s lower reported BTC holdings automatically indicated sales for gold. He failed to factor in Tether’s funding of Twenty One Capital.

Additionally, Mow highlighted that Tether had 4,624 BTC more in Q2 2025 than in the previous quarter. When combined with the July transfer, the firm’s net Bitcoin holdings had increased by at least 10,424 BTC.

Tether Invests in Safe Assets 

Consequently, Mow dismissed Thompson’s claim and labeled it a “desperate” attempt to create bearish news surrounding Bitcoin. He noted that Tether is mega bullish on the leading crypto asset on all metrics. Ardoino echoed the explanation, emphasizing that the Bitcoin was moved, not sold. 

“As Samson says below, it contributed part of its stash to XXI. While the world continues to get darker, Tether will continue to invest part of its profits into safe assets like Bitcoin, Gold and Land. Tether is the Stable Company,” he wrote.

According to Bitcointreasuries, Tether currently holds 100,521 BTC, worth $11.67 billion, positioning it among the largest private holders of Bitcoin worldwide.