Tether Reports 150,000 BTC Holdings and Expands Its Tech Stack
Tether CEO Paolo Ardoino said the stablecoin issuer holds about 150,000 Bitcoin (BTC), worth more than $11.5 billion, at the Plan ₿ Forum in Lugano. Tether has allocated up to 15% of quarterly net profits to Bitcoin since May 2023. Its Q3 2026 attestation valued its Bitcoin holdings at $8.37 billion as of 30 September, a figure that may reflect holdings at an earlier point than Ardoino’s latest estimate.
The report also said Tether serves more than 730 million users and adds about 30 million wallets each quarter. Its Q3 attestation listed about $122.8 billion in directly held US Treasury bills, or $132.4 billion including repurchase agreements, alongside $7.95 billion in excess reserves. Ardoino also outlined Tether’s “Independence Stack,” covering energy, Bitcoin mining, peer-to-peer communications, self-custody wallets and on-device AI. For traders, Tether’s growing Bitcoin position is a notable corporate holding, but the company says its BTC purchases are funded by profits rather than reserves backing USDT.
Neutral
The news is neutral for BTC in the near term. Tether’s estimated holding of about 150,000 BTC signals substantial corporate exposure and may reinforce confidence among some traders, but the disclosure does not establish a new purchase schedule or an immediate change in market demand. The Q3 attestation’s $8.37 billion valuation is a dated snapshot, while the latest estimate is higher; differences in timing and valuation mean the figures should not be treated as a direct measure of recent buying pressure.
Over the longer term, Tether’s policy of directing up to 15% of quarterly net profits to Bitcoin could provide a recurring source of demand when profits are positive. However, the pace and scale of purchases can vary, and Tether says these purchases are funded by profits rather than USDT backing reserves. Traders may therefore view the holdings as a supportive structural signal, but their effect on BTC price and market stability is likely limited without confirmation of ongoing purchases or broader changes in supply and demand.