Tether CEO Denies Selling Bitcoin to Invest in Gold
- Tether holds approximately $8.7 billion worth of gold bars.
- The company’s bitcoin reserves decreased from 92,650 BTC to 83,274 BTC between Q1 and Q2.
- Tether transferred nearly 20,000 BTC to Twenty One Capital (XXI), a company where it is a majority shareholder.
- CEO Paolo Ardoino stated that Tether did not sell any bitcoin but instead contributed part of its holdings into XXI.
- Ardoino emphasized Tether’s commitment to investing in safe assets like bitcoin, gold, and land.
In response to speculation about selling bitcoin for gold investments, Ardoino clarified that Tether has not sold any bitcoin but has allocated some to its subsidiary, XXI. This highlights Tether’s strategy of diversifying its asset portfolio while maintaining significant holdings in both Bitcoin and gold.
Despite the decrease in reported bitcoin reserves, Tether continues to hold substantial assets including $8.7 billion in gold.(Source)
