Tether’s Ardoino shoots down “BTC-for-gold” rumor: “We buy and hold both”

Key facts

• Ardoino: “didn’t sell any Bitcoin”; profits keep going into BTC, gold, land.
• The 19,800 BTC change cited online aligns with transfers to XXI, not disposals.
• Tether previously showed 100k+ BTC and 50+ tons gold.

Tether CEO Paolo Ardoino has dismissed rumors that the stablecoin issuer sold Bitcoin to boost its gold exposure. In a post on X , he said the company “didn’t sell any Bitcoin,” adding that profits continue to be invested in Bitcoin, gold, and land.

What triggered the claim

The talk started after a YouTuber compared Tether’s Q1 and Q2 2025 attestations and noted a drop in reported BTC holdings.

Industry figures, including Jan3’s Samson Mow, say the decline reflects transfers, not sales, specifically 19,800 BTC moved to Twenty One Capital (XXI) in June (14,000 BTC) and July (5,800 BTC).

That aligns with earlier on-chain tracking of larger pre-funding moves to XXI in early June. XXI itself is a Bitcoin-native vehicle led by Strike CEO Jack Mallers and backed by Tether, Bitfinex, and SoftBank.

Mainstream outlets have detailed the structure via a SPAC merger with Cantor Equity Partners and an initial treasury around 42,000 BTC. See the Financial Times and Business Insider coverage for corporate details.

Where Tether’s BTC and gold stand

Tether disclosed 100,000+ BTC and 50+ tons of gold earlier this year. The company also posts quarterly attestations via BDO; the Q2 2025 assurance report is available on Tether’s site and details reserves as of June 30, 2025.