Tether CEO Paolo Ardoino recently disclosed that the company holds a significant amount of Bitcoin and gold as reserve assets for its USDT stablecoin.
This revelation comes as Tether is also advancing work on an AI software development kit (SDK).
Tether’s USDT Bitcoin and Gold Reserves
On October 26, UQUID CEO Tran Hung revealed details from Ardoino’s presentation at the recent Lugano Plan B event, noting that Tether now holds 82,454 BTC and 42.3 tons of gold as part of its reserves. Ardoino confirmed this in a subsequent post on X (formerly Twitter).
“Since I see a lot of confusion in this thread, let me clarify that: — Tether has ~100B in US treasuries. — Plus it has 82k+ BTC and 48T+ of gold,” Ardoino stated.
Read more: What Is a Stablecoin? A Beginner’s Guide
This number marks a strong upward trend for the company. In its second-quarter attestation report, Ardoino stated that the firm’s Bitcoin reserves were around 80,000 BTC. However, Bitinfo charts data shows that Tether’s publicly available Bitcoin wallet had a balance of 75,354 BTC as of press time.
Over the last year, Tether has steadily increased its Bitcoin holdings through quarterly purchases as part of a diversification strategy. Meanwhile, the company’s reserve assets include not only Bitcoin but also significant holdings in gold, cash equivalents, and short-term deposits.
