Tether denies BTC sell-off, confirms Bitcoin-gold reserves
Tether denies BTC sell-off and confirms its hybrid reserve strategy.
Recent analysis claimed its Bitcoin holdings fell from 92,650 BTC in Q1 to 83,274 BTC in Q2, suggesting a sale for gold. However, 19,800 BTC were allocated to its investment arm, Twenty One Capital (XXI), boosting net BTC reserves to over 100,521 BTC (worth ~$11.17 billion). Tether CTO Paolo Ardoino reaffirmed that no Bitcoin was sold. He highlighted that the issuer now holds around $8.7 billion in gold (nearly 80 tons) in Zurich and invested $105 million in gold royalties via Elemental Altus. Tether’s gold-backed token, XAUT, has surpassed a $1.3 billion market cap. By denying BTC sell-off rumors, Tether signals confidence in its Bitcoin reserves and diversified reserve model.
Bullish
Tether denies BTC sell-off by reallocating reserves to its investment arm and adding more Bitcoin, signaling strong confidence in its core reserve asset. In the short term, this may boost market sentiment, supporting BTC prices as traders interpret renewed accumulation by a leading stablecoin issuer as bullish demand. Over the long term, Tether’s diversified reserve model, including substantial gold holdings and land investments, could stabilize its backing and reduce sell pressure, further reinforcing Bitcoin’s price sustainability and resilience amid volatility.