Paolo Ardoino, CEO of Tether, the issuer of the largest USDT of Stablecoin, took X on Sunday to refute claims about the company that sells its Bitcoin (BTC) to invest in gold. In his publication, Ardoino wrote that “Tether did not sell any bitcoin,” and added that:
“While the world continues to obscure, Tether will continue to invest part of his earnings in safe assets such as Bitcoin, Gold and Land.”
How rumor began
On September 6, YouTuber Clive Thompson said “Recently, Tether has been buying gold and selling Bitcoin.” Thompson’s statement was based on an examination of Tether’s asset statements.
According to Thompson, Tether sold more than $ 1 billion BTC and bought more than $ 1.6 billion of gold in the last quarter. This indicates that Tether is giving Bitcoin in favor of gold, according to Thompson.
Failures in Thompson’s statements
The CEO of Jan3, Samson Mow, said faults in Thompson’s theory based on public data. In an X position, Mow explained that Thompson came to the wrong conclusion since he assumed that a fall in BTC Holdings of Tether automatically meant that they sold it by gold.
In the first and second quarter of this year, Tether reported holdings of 92,650 BTC and 83,274 BTC respectively. According to Mow, Thompson forgot to take into account the financing of a separate project called Twenty One Capital (XXI). Tether transferred 14,000 BTC on June 2 and 5,800 BTC in July, sending a total of 19,800 BTC to XXI.
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Therefore, Mow explained that Tether had 4,624 BTC more in the second quarter of 2025 than in the previous quarter. July transfer accounting, Tether “has (at least) a net increase in Bitcoin holdings of 10,424 BTC,” Mow wrote.
Consequently, Mow dismissed Thompson’s statement as “false” and described him as a “desperate” attempt to create biseistic news around Bitcoin.
Tether’s deepest relationship with gold
The last development that surrounds Tether occurs a few days after the company announced that it is looking to invest in gold mining companies. But Tether has been diversifying in gold for a while.
In June, the Stablecoin issuer spent $ 90 million to acquire substantial participation in a company specialized in gold royalties. Earlier this week, Tether announced that it will serve another $ 100 million in the same company: Altus royalties corp.emental corp.
In addition, the Tether emits the Gold Gold Gold (Xaut) with gold backup (Xaut). Xaut is backed by approximately 7.66 tons of gold stored in Switzerland. About 5% of USDT reserves also remain in gold by Tether.
