Tether Says It Holds 150,000 Bitcoin, Worth $11.5 Billion
Ardoino spoke in Lugano about a larger BTC stash than the one listed in Tether’s reserve statement. That keeps the stablecoin issuer in view as a major Bitcoin holder too.
Key Takeaways
- Tether says it holds about 150,000 bitcoin, with an estimated value of $11.5 billion.
- CEO Paolo Ardoino mentioned the stash during his keynote at the Plan ₿ Forum in Lugano.
- The stated amount is about 50,000 BTC above what Tether’s latest reserve statement shows.
Tether says it holds about 150,000 bitcoin, worth roughly $11.5 billion (€10.3 billion) at the current price. That is about 50,000 BTC more than can be inferred from the company’s latest reserve statement.
Ardoino Points to a Larger Stash
CEO Paolo Ardoino said this during his keynote at the Plan ₿ Forum in Lugano. He described Tether’s bitcoin stash as “give or take 150,000 bitcoin” and added that the company holds those coins itself.
Ardoino did not say exactly where the extra coins are or when Tether bought them. So it is not clear whether this was a recent purchase. The comment mainly points to a larger total Bitcoin position than just the reserves directly tied to USDT.
Difference From the Reserve Statement
In Tether International’s third-quarter report, with an attestation from BDO, it lists $8.37 billion (€7.5 billion) in bitcoin at $83,621.23 (€74,600) per coin. Based on those figures, the reserve position comes out to about 100,060 BTC, compared with about 98,930 BTC at the end of June. That means an increase of about 1,130 BTC in the third quarter.
According to the calculations tied to the two reports, most of the rise in bitcoin value came from the higher price. Tether has said before that investments through Tether Investments are separate from the reserves backing USDT. So those could fall outside the reserve overview, although Ardoino did not say whether that is the case here.
Why This Matters for Europe
For European crypto followers, this matters because Tether is still one of the biggest players in the stablecoin market. A larger Bitcoin position from the issuer of USDT shows how strongly the company acts as a Bitcoin holder alongside its stablecoin business. That could be interesting for readers who track how major crypto companies structure their balance sheets and reserves.
The broader debate about Tether’s role in the market also plays a part. In an earlier report on Tether’s farmland purchase, it was already clear that the company deploys its capital more broadly than just in USDT reserves.