Tether CEO Says Company Holds 150000 Bitcoin
Paolo Ardoino revealed that Tether owns roughly 150000 Bitcoin, exceeding the amount implied by the stablecoin issuer's third-quarter reserve report.
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During a keynote speech at the Plan ₿ Forum in Lugano, Switzerland, Tether CEO Paolo Ardoino stated that the stablecoin giant possesses about 150000 Bitcoin. At current market valuations, this stash is worth approximately $11.5 billion. Ardoino remarked on stage that the organization holds this amount itself as part of its operations.
This disclosure stands out because it does not align precisely with the company's official paperwork. The third-quarter reserve attestation for USDT lists $8.37 billion in Bitcoin calculated at $83621 per coin, which points to roughly 100060 BTC. Consequently, public filings leave about 50000 coins uncounted, representing a value close to $3.8 billion.
Understanding the Tether Holdings Discrepancy
Ardoino did not clarify the acquisition timeline or the storage location for the extra Bitcoin, meaning the comment does not signal a brand-new purchase of that magnitude. Furthermore, the firm has consistently stated that its corporate Bitcoin holdings remain separate from the reserves backing its digital token. The issuer began allocating up to 15 percent of its net realized operating profits into Bitcoin starting in May 2023, choosing to custody the digital assets internally instead of using external custodians.
Tether CEO reports holding 150000 Bitcoin, exceeding numbers shown in official reserve reports.
This accumulation strategy relies heavily on substantial earnings. The business generated $1.5 billion in net operating profit solely during the third quarter and maintained billion-dollar quarterly profits throughout the year while its stablecoin supply expanded. Meanwhile, the broader reserve overview from the latest report records $191.45 billion in total assets against $183.50 billion in liabilities, yielding a $7.95 billion excess buffer.
The transparency surrounding reserves remains a sensitive topic for the organization amid past inquiries regarding USDT backing. To address lingering doubts, the firm initiated its first comprehensive financial audit with KPMG this year. Additionally, Ardoino noted that the company supports more than 730 million global users and incorporates nearly 30 million wallets every quarter while promoting open-source technologies.
Why it matters
The gap between reported reserve figures and executive statements highlights ongoing scrutiny regarding transparency in the digital asset sector. While the company maintains a robust financial buffer, discrepancies in public filings affect how stakeholders evaluate corporate asset management and reserve backing.
This situation impacts digital asset market observers and participants who rely on official reserve attestations to assess stability. Greater clarity on asset custody helps address long-standing questions about how stablecoin reserves are managed alongside separate corporate investments.