Tether CEO claims 150,000 Bitcoin holdings exceeding reserve reports

Tether Chief Executive Officer Paolo Ardoino stated that the company holds approximately 150,000 Bitcoin valued at roughly $11.5 billion, according to reports from Decrypt, Bitcoin Magazine, and CoinDesk. Speaking in Lugano, Switzerland, Ardoino said the stablecoin issuer has "give or take 150,000 bitcoin ourselves." Decrypt and Bitcoin Magazine reported that Tether has operated a Bitcoin and stablecoin adoption program in Lugano since 2022. [1][2][4]

The disclosed figure is approximately 50,000 coins higher than what is indicated in Tether's latest filings. Decrypt and Bitcoin Magazine both reported that the company's third-quarter reserve report implies a balance of 100,060 Bitcoin. CoinDesk Tech Security reported that Ardoino did not explain where the additional reserves are kept. Holdings retained outside of USDT reserves, such as company investments, would not be listed in the primary reserve attestation. [1][2][3]

Tether is a digital currency designed to maintain a stable peg to the United States dollar and trades under the ticker USDT. Bitcoin is a decentralized cryptocurrency first described in a white paper published in 2008. [12][13]