Tether CEO Confirms Company Did Not Sell Bitcoin for Gold
Tether CEO Paolo Ardoino has refuted claims that the company sold its bitcoin holdings to purchase gold. He stated, "didn't sell any bitcoin," responding to concerns raised by YouTuber Clive Thompson regarding a decrease in Tether's BTC reserves from 92,650 to 83,274.
Key points:
- Tether sent nearly 20,000 BTC to Twenty One Capital, where it holds a majority stake.
- Ardoino confirmed this transaction, stating Tether contributes part of its holdings into XXI.
- Tether aims to invest profits into safe assets like bitcoin, gold, and land.
- The company currently holds $8.7 billion in gold bars and is exploring investments in gold mining.