Tether CEO Denies Selling Bitcoin for Gold
Tether CEO Paolo Ardoino dismisses rumors of BTC sale for gold, saying the company holds both assets.
- Tether denies reports of selling Bitcoin for gold.
- CEO confirms the firm holds both BTC and gold.
- Markets react calmly to the clarification.
Tether CEO Paolo Ardoino has firmly denied widespread rumors that the stablecoin issuer sold its Bitcoin holdings in exchange for gold. Responding to speculation circulating across social media, Ardoino emphasized, “We buy and hold both,” referring to Bitcoin (BTC) and gold.
The rumors began gaining traction earlier today, suggesting that Tether had offloaded part of its Bitcoin treasury to increase its gold reserves. This raised concerns among investors and analysts who closely monitor institutional behavior in crypto markets.
Strong Holdings in BTC and Gold
Tether, known for its USDT stablecoin, has been increasingly transparent about its reserve strategy in recent months. The company has previously revealed that it holds both Bitcoin and gold as part of its reserve assets backing USDT. However, Ardoino’s latest statement confirms that there has been no shift away from Bitcoin.
The tweet from Ardoino aimed to reassure the market that Tether continues to maintain its diversified reserve portfolio, balancing between crypto and traditional safe-haven assets like gold. This approach reflects a broader strategy to stabilize USDT’s value while also gaining exposure to store-of-value assets.
Market Reaction Remains Steady
Despite the initial rumors, the crypto market showed little volatility, indicating that traders are taking Ardoino’s clarification seriously. Bitcoin’s price remained relatively stable, and there were no major moves in Tether’s market cap or gold prices as a result of the news.
Tether’s continued support for both Bitcoin and gold may serve as a signal of confidence to the broader crypto community, especially in a time when regulatory scrutiny and market uncertainty remain high.
Read also:
- Shiba Inu Eyes 150% Surge Amid Bullish Reversal
- Altcoin Rally Incoming as Stablecoin Dominance Drops
- Missed Doginme? BullZilla Presale Could Be the Next 1000x Meme Coin
- Altcoin Market Prepares for Surprise Breakout
- Bitcoin Illiquid Supply Hits Record 14.3M BTC
