Tether sells Bitcoin for gold? CEO Paolo Ardoino personally responds to the rumors.

Last week, the cryptocurrency community was abuzz with a rumor - the world's largest stablecoin issuer Tether sold Bitcoin in exchange for gold. The news sent shockwaves through the market, and some investors feared it was a sign of unfavourable information for Bitcoin. However, Tether executives and well-known industry figures quickly stepped forward to dispel the rumors and publicly clarified the truth.

Source of Rumor: Data Interpretation by YouTuber

The event originated from YouTuber Clive Thompson's analysis of Tether's auditing firm BDO's quarterly report:

2025 Q1 (March 31): Holding 92,650 BTC

Q2 2025 (June 30): Holding 83,274 BTC

On the surface, this means that Tether has reduced more than 9,000 BTC, which Thompson speculates may have been exchanged for gold.

Industry Rebuttal: Actual Holdings Have Increased Instead

Jan3 CEO Samson Mow quickly refuted this claim on X (formerly Twitter) and explained the truth behind the data:

The reduced BTC is not a sell-off, but rather a transfer to Tether's long-term investment division, the XXI plan.

June 2, 2025: 14,000 BTC transferred to XXI

July 2025: 5,800 BTC transferred to XXI

After accounting for these transfers, Tether's actual Bitcoin holdings are 10,424 BTC more than at the end of Q1.

Mow stated: "Tether remains a strong bull for Bitcoin based on various indicators."

CEO Clarifies Personally: Bitcoin Remains the Core Strategy

Tether CEO Paolo Ardoino posted on X supporting Mow's explanation, emphasizing: "Yes, Tether has not sold any Bitcoin. Some reserves have been invested in the XXI project. We will continue to invest part of our profits in safe assets such as Bitcoin, gold, and land."

Ardoino also rarely disclosed Tether's main Bitcoin holding address: bc1qjasf9z3h7w3jspkhtgatgpyvvzgpa2wwd2lr0eh5tx444reyn2kfc277a. He stated that the vast majority of BTC held by the company is held directly, not through derivatives or third parties.

Why is the market paying so much attention?

Tether's stablecoin USDT is the largest cryptocurrency by trading volume in the world, and its reserve allocation has a significant impact on market sentiment.

If selling BTC: it may be interpreted as a lack of confidence in the prospects of Bitcoin, triggering panic selling.

If increasing holdings of BTC: it is regarded as a bullish signal for the market, enhancing investor confidence.

Therefore, any rumors about changes in Tether's holdings will be interpreted in an exaggerated manner.

Summary of Truth and Market Interpretation

Rumor: Tether reduced its holdings of 9,000+ BTC for gold

Fact: BTC transferred to long-term investment department, actual holdings have increased instead.

Strategy: Bitcoin remains the core asset, with gold and land as supplementary allocations.

Market analysis believes that Tether's diversified asset strategy is a form of risk hedging and does not indicate a loss of confidence in Bitcoin. On the contrary, the increase in holdings shows that it remains bullish on BTC in the long term.

Conclusion

This "Tether selling coins for cash" blunder once again reminds the market - in the world of encryption, data interpretation requires context and details, otherwise it is easy to be misled. For investors, rather than being swayed by rumors, it is better to directly pay attention to information from official sources and credible analysts.