Tether CEO Denies Selling Bitcoin for Gold
Tether CEO Paolo Ardoino dismisses rumors of selling Bitcoin for gold, says the company holds both assets.
- Tether CEO denies BTC-to-gold sale rumors.
- Says Tether holds both Bitcoin and gold.
- Reaffirms transparency amid speculation.
Tether Refutes Rumors of Bitcoin-to-Gold Swap
Tether CEO Paolo Ardoino has responded to circulating rumors that the company sold its Bitcoin holdings in exchange for gold, making it clear that such claims are untrue. In a direct statement, Ardoino clarified,
“We buy and hold both.”
The comment comes after speculation on social media suggested Tether might have shifted its strategy by selling off a portion of its Bitcoin treasury to increase gold reserves. Given Tether’s significant role in the crypto ecosystem as the issuer of the USDT stablecoin, even small rumors can trigger widespread market concern.
Bitcoin and Gold: Both Still in Tether’s Reserves
Tether has long been known for its diversified reserve strategy, which includes Bitcoin, gold, cash equivalents, and other assets. While the company has added gold to its holdings in recent years, there’s been no official indication of any divestment from Bitcoin.
This latest rumor likely gained traction due to market movements and gold’s rising performance in uncertain economic conditions. However, Ardoino’s public statement helps reaffirm Tether’s commitment to both assets, countering any fear of a shift in its reserve policy.
Transparency Still a Focus for Tether
Tether has faced scrutiny in the past regarding the composition and security of its reserves. In recent months, the company has taken steps to improve transparency, including publishing regular attestations and increasing public communication through executives like Ardoino.
This firm denial helps reinforce Tether’s message of stability, especially at a time when market confidence remains critical. Investors and analysts can rest easier—Tether continues to hold both Bitcoin and gold, with no indication of a sell-off strategy.
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