Tether, which shared its Bitcoin and gold reserves for the first time in its first quarter report of 2023, attracted attention with the fact that the gold ratio in its reserves was higher than Bitcoin.
It remains a matter of curiosity how much Bitcoin Tether, which has since announced its BTC and gold reserves, holds.
At this point, the final statement came from the Tether CEO.
Speaking at the PlanB event in Lugano, Switzerland, Tether CEO Paolo Ardoino revealed that Tether holds approximately $100 billion worth of US Treasury bonds, more than 82,000 Bitcoins.
Ardoino, who also disclosed the gold reserves, said that Tether also has $3.87 billion worth of gold reserves in addition to $5.5 billion worth of Bitcoin.
Since I see a lot of confusion in this thread, let me clarify that:
– Tether has ~100B in US treasuries.
– Plus it has 82k+ BTC and 48T+ of gold.— Paolo Ardoino 🤖🍐 (@paoloardoino) October 27, 2024
This statement has raised concerns about the stablecoin’s market support, with some suggesting it may not fully meet expectations. In response, Tether CEO Paolo Ardoino revealed in a post on X that the company holds $100 billion in US Treasury bonds alongside its BTC and gold reserves.
The Tether CEO's comments come on the heels of recent Wall Street Journal claims that U.S. authorities are investigating the company for violating money laundering laws and U.S. sanctions.
Tether's CEO vehemently denied the WSJ's allegations, saying: “As we told the WSJ, there is no indication that Tether is under investigation.”
*This is not investment advice.
