Stablecoin issuer Tether holds roughly 150,000 Bitcoin valued at approximately $11.5 billion at current prices, Paolo Ardoino, CEO of Tether, revealed during his keynote address at the Plan ₿ Forum in Lugano, Switzerland.
The figure disclosed by Ardoino is about 50,000 Bitcoin higher than the holdings reflected in the company’s latest reserve report. “We have give or take 150,000 bitcoin ourselves. It’s not much, but it’s honest work,” Ardoino said during his speech. He did not clarify where the additional funds are held or when they were acquired, indicating the statement does not necessarily signal a recent purchase of 50,000 Bitcoin.
Tether International’s third-quarter reserve report, attested by accounting firm BDO, listed $8.37 billion in Bitcoin held within the reserves backing its USDT stablecoin, implying holdings of approximately 100,060 Bitcoin. Tether has previously stated that proprietary investments made through Tether Investments are funded using excess capital and profits and are maintained separately from the reserves backing USDT.
During his address, Ardoino highlighted Tether’s role in supporting the Bitcoin ecosystem and stated that the company serves over 730 million users globally, adding roughly 30 million wallets each quarter. Tether reported total reserve assets of $191.45 billion against $183.50 billion in liabilities at the end of September, with its excess reserves rising to $7.95 billion. In May 2023, the company committed to allocating up to 15 per cent of its net realized operating profits toward Bitcoin purchases, storing the assets self-custodially rather than through third-party providers.
