Tether’s CEO, Paolo Ardoino, has dismissed accusations that the company has been selling its Bitcoin holdings to invest in gold. Ardoino stated that Tether, the issuer of the world’s largest stablecoin USDT, “didn’t sell any bitcoin,” in a post made on X (formerly Twitter).

Key Points:

• Paolo Ardoino has strongly rejected claims that Tether was selling Bitcoin.
• In response to YouTuber Clive Thompson, he indicated that the firm’s reserve data showed a decline in Bitcoin holdings from 92,650 BTC to 83,274 BTC.
• Samson Mow, CEO of JAN3, highlighted that Tether transferred nearly 20,000 BTC to Twenty One Capital, a company where Tether holds a majority stake.

Ardoino remarked: “As Samson says below, [Tether] contributed part of its stash into XXI.”

He added that as challenging times persist, Tether continues to invest a portion of its profits into secure assets like Bitcoin, gold, and land. Tether reportedly possesses $8.7 billion in gold bars and is considering investing in gold mining.

“While the world continues to get darker, Tether will continue to invest part of its profits into safe assets like bitcoin, gold, and land,” Ardoino remarked.