Tether CEO Reveals Company Holds 150,000 Bitcoin, Exceeding Reserve Report

Tether CEO Paolo Ardoino disclosed that the company possesses around 150,000 Bitcoin, valued at approximately $11.5 billion, during his keynote speech at the Plan ₿ Forum in Lugano, Switzerland. This figure surpasses the holdings indicated in Tether's most recent reserve attestation by about 50,000 Bitcoin.

According to Ardoino, "We have give or take 150,000 bitcoin ourselves. It’s not much, but it’s honest work." The latest reserve report, published on October 30, indicated that Tether had $8.37 billion in Bitcoin, which translates to roughly 100,060 BTC, reflecting a modest increase from the previous quarter.

The discrepancy between Ardoino's figure and the reserve report raises questions about the additional Bitcoin's ownership and storage. Tether has previously stated that investments made from profits are separate from the reserves backing its stablecoin, USDT, suggesting that some of the Bitcoin may belong to Tether Investments.

Tether's financial health appears robust, with a reported excess of $7.95 billion in reserves against liabilities of $183.50 billion. The company has also diversified its investments, including ventures in mining and energy across Latin America.

As Tether continues to grow, it has amassed over 730 million users, adding approximately 30 million wallets each quarter. The company recently completed its first independent audit with KPMG, marking a significant step in transparency.