Stablecoin

2024

Bitcoin

According to <a href="https://cointelegraph.com/news/tether-denies-bitcoin-sell-off-invests-btc-gold-land?ref=btcpeers.com" rel="noopener noreferrer nofollow">Cointelegraph</a>, Tether CEO Paolo Ardoino publicly denied recent claims that the company sold Bitcoin holdings to purchase gold. The stablecoin issuer faced speculation after YouTuber Clive Thompson cited BDO attestation data showing Tether's Bitcoin position dropped from 92,650 BTC in Q1 to 83,274 BTC in Q2 2025.
Ardoino clarified on social media that Tether "didn't sell any Bitcoin" and continues allocating profits into Bitcoin, gold, and land investments. Jan3 CEO Samson Mow explained the apparent reduction resulted from Tether transferring 19,800 BTC to Twenty One Capital during June and July 2025. The transfers included 14,000 BTC in June and 5,800 BTC in July to support the Bitcoin-native financial platform led by Strike CEO Jack Mallers.
Mow's analysis showed that accounting for these transfers, Tether actually increased its net Bitcoin holdings by 4,624 BTC compared to Q1 2025. Including July movements, the company gained at least 10,424 BTC overall. Tether currently holds over 100,521 BTC worth approximately $11.17 billion according to BitcoinTreasuries.NET.
<h2 id="strategic-investment-in-bitcoin-infrastructure-development">Strategic Investment in Bitcoin Infrastructure Development</h2>
The Bitcoin transfers to Twenty One Capital represent Tether's strategic investment in Bitcoin-native infrastructure rather than asset liquidation. <a href="https://www.pymnts.com/cryptocurrency/2025/cantor-fitzgerald-tether-softbank-launch-3-6-billion-bitcoin-investment-firm?ref=btcpeers.com" rel="noopener noreferrer nofollow">PYMNTS</a> reported that Twenty One Capital launched through a business combination valued at $3.6 billion, with Tether as majority owner alongside Bitfinex and SoftBank Group holding minority stakes.
Twenty One Capital aims to become a publicly traded vehicle for Bitcoin exposure and Bitcoin-focused financial products. The company expects to hold over 43,500 BTC at closing, making it the third-largest corporate Bitcoin treasury globally. Jack Mallers will lead the entity as co-founder and CEO while continuing his role at Strike.
The investment demonstrates Tether's commitment to expanding Bitcoin adoption through institutional infrastructure. We previously reported that <a href="https://btcpeers.com/15-us-states-move-forward-with-plans-for-bitcoin-reserves" rel="noopener noreferrer nofollow">15 US states have begun establishing government-owned Bitcoin reserves</a>, following President Trump's executive order exploring a national cryptocurrency stockpile. This broader trend toward institutional Bitcoin adoption provides context for Tether's strategic positioning.
<h2 id="implications-for-stablecoin-market-leadership">Implications for Stablecoin Market Leadership</h2>
The clarification reinforces Tether's position as a major Bitcoin advocate within the stablecoin sector. <a href="https://blockonomi.com/tether-ceo-ardoino-denies-bitcoin-selloff-amid-gold-accumulation-talk/?ref=btcpeers.com" rel="noopener noreferrer nofollow">Blockonomi</a> noted that Tether now holds approximately 80 tons of physical gold worth $8.7 billion in Zurich vaults, complementing its Bitcoin reserves as part of a diversified strategy.
This dual-asset approach positions Tether differently from competitors focused solely on dollar-denominated reserves. The company's substantial Bitcoin and gold holdings provide hedging against fiat currency instability while supporting its USDT stablecoin backing. Tether's $13 billion profit in 2024 demonstrates the financial strength enabling these strategic investments.
The market initially reacted to the Q2 attestation data with concerns about potential Bitcoin sales. However, the clarification that transfers supported Bitcoin infrastructure development rather than liquidation may strengthen confidence in Tether's long-term Bitcoin commitment. The stablecoin issuer's involvement in Twenty One Capital creates potential synergies between traditional stablecoin operations and emerging Bitcoin-native financial services.
Twenty One Capital's planned public listing under ticker "XXI" will provide transparent on-chain verification of Bitcoin holdings through real-time proof of reserves. This transparency model could influence how other institutional Bitcoin holders demonstrate their holdings to market participants and regulators seeking greater visibility into cryptocurrency reserves.

Tether Clarifies Bitcoin Holdings Strategy Following Speculation About Asset Sales

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