Tether CEO Paolo Ardoino has publicly denied rumors that the stablecoin issuer sold any of its Bitcoin holdings. The speculation arose after a misinterpretation of the company’s Q1 and Q2 2025 attestation reports, which appeared to show a reduction in its Bitcoin reserves. Ardoino addressed the concerns directly on the social media platform X, stating Tether “didn’t sell any Bitcoin.”
The confusion began when YouTuber Clive Thompson pointed out a decrease in Tether’s listed Bitcoin holdings in the very first quarters of this year. However, Jan3 CEO Samson Mow later clarified the discrepancy. According to Mow, the change was due to Tether transferring 19,800 BTC to a separate investment initiative named Twenty One Capital (XXI).
On-Chain Data Confirms Transfers
On-chain data confirms two significant transfers to XXI, with 14,000 BTC moved in June and another 5,800 BTC in July. Tether’s attestation reports showed holdings dropping from 92,650 BTC in Q1 to 83,274 BTC in Q2. Once the 19,800 BTC transfer is accounted for, data indicates Tether’s net Bitcoin holdings actually increased by at least 10,424 BTC during this period.
In his post on X, Ardoino reaffirmed the company’s long-term investment strategy, which involves allocating profits into assets like “Bitcoin, gold, and land.” The market reaction to the clarification was minimal, with BTC showing a slight 0.75% increase, while USDT remained stable.
This clarification is significant as Tether is one of the largest corporate holders of Bitcoin. By denying the rumors in public and giving a clear reason for the movement of funds, Tether’s leaders have helped keep the market from being too uncertain and reaffirmed the company’s dedication to its Bitcoin accumulation strategy. The event also shows how important it is to carefully read on-chain data and financial records from companies so that false information doesn’t spread.
Also Read: Tether Eyes Gold Mining Investment to Boost Bullion Exposure
