Tether Denies Selling Bitcoin for Gold
Tether, the biggest stablecoin issuer, has denied rumors that it is selling its bitcoin to buy gold. These rumors spread in Bitcoin communities in recent weeks. Some people thought Tether was reducing its bitcoin holdings to increase its gold reserves.
Paolo Ardoino, Tether’s CEO, called these rumors false. He said the company still invests in “Bitcoin, gold, and land” as part of its strategy.
Where Did the Rumors Start?
The rumors began after an independent analyst and YouTuber named Clive Thompson looked at Tether’s quarterly reports. These reports came from the accounting firm BDO. Thompson’s video, which is now removed, claimed Tether’s bitcoin dropped from 92,650 BTC in the first quarter of 2025 to 83,274 BTC in the second quarter.
Thompson said this drop meant Tether was selling bitcoin to buy gold. This idea caused many people on Bitcoin Twitter to worry and spread the news quickly.
Industry Experts Explain the Numbers
Other experts soon explained what really happened. Samson Mow, CEO of the Bitcoin company JAN3, said Tether did not sell its bitcoin. Instead, it moved 19,800 BTC to a new investment group called Twenty One Capital (XXI).
- On June 2, 2025, Tether transferred 14,000 BTC to XXI.
- In July 2025, another 5,800 BTC was transferred to XXI.
Mow said that after these transfers, Tether actually had 4,624 BTC more than at the end of the first quarter. If you count the July transfer, Tether’s bitcoin holdings grew by at least 10,424 BTC.
Mow said, “Tether is mega bullish on Bitcoin on all metrics.”
Ardoino confirmed this. He said Tether “didn’t sell any Bitcoin” but only moved some bitcoin to the new investment vehicle.
Tether’s Bitcoin and Gold Holdings
Ardoino said Tether is not leaving Bitcoin. Instead, it is making its bitcoin position stronger. Currently, Tether holds over 100,521 BTC. This is worth about $11.17 billion. This makes Tether one of the largest institutional bitcoin holders in the world.
At the same time, Tether is increasing its gold holdings. Ardoino calls this a “hybrid reserve model.” Reports say Tether has about $8.7 billion in gold. This gold weighs nearly 80 tons and is stored in secure vaults in Zurich.
Tether also created a gold-backed token called XAUT. This token recently passed a $1.3 billion market cap. It is now one of the top 100 digital assets.
Why Tether Invests in Bitcoin, Gold, and Land
Ardoino said, “While the world continues to get darker, Tether will continue to invest part of its profits into safe assets like Bitcoin, gold, and land.”
He explained that this is not about replacing Bitcoin. Instead, it is about being strong during uncertain times. Bitcoin remains the main part of Tether’s reserves. Gold and land help diversify and protect the company’s assets.
