Did Tether Really Dump Bitcoin?

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On a fine Sunday, the ever-diligent Ardoino took to X to quash the gossip of the day, firmly declaring, “We didn’t sell any Bitcoin!” With an air of serene conviction, he reaffirmed Tether’s plan to stash excess profits into hard assets-namely, Bitcoin, gold, and land. Ah, land-what could be more reliable than a piece of dirt, right? 😏

The Origin of This Wild Rumor

The drama began when the infamous YouTuber Clive Thompson made a splash, alleging that Tether’s quarterly attestations revealed a mass Bitcoin sell-off. According to Clive’s impeccable “math,” Tether’s stash had dwindled from a robust 92,650 BTC in Q1 to a mere 83,274 BTC by Q2 of 2025. Cue the Twitter frenzy: had Tether secretly decided to offload their precious Bitcoin while everyone else was busy hoarding their sats? 🤔

Not so fast. Enter Samson Mow, the wise CEO of Jan3 and long-time Bitcoin evangelist, who stepped in to restore sanity. He revealed that Tether hadn’t sold any Bitcoin, but instead had merely transferred 19,800 BTC to a new Bitcoin-native platform, Twenty One Capital (XXI)-run by none other than Strike’s Jack Mallers. Yes, folks, coins were moved, not dumped. So calm down, everyone. 😅

In fact, if you consider the transfer, Tether’s net holdings actually increased. Ardoino, ever the voice of reason, called the rumors “FUD” (fear, uncertainty, and doubt) and reiterated that Tether remains one of the largest institutional Bitcoin whales in the world. 🐋

The Bigger Picture: Tether’s Power Play

As of today, Tether holds over 100,521 BTC, valued at approximately $11.17 billion, according to BitcoinTreasuries.net. This places them in the same league as MicroStrategy, helmed by the illustrious Michael Saylor, and-dare we say it-some sovereign nations. Tether’s balance sheet has morphed from dull bonds into an apocalyptic-ready vault of hard assets. Bitcoin for growth, gold for tradition, and land for, well, *permanence*. Yes, that’s right, they’re preparing for the apocalypse, and it’s surprisingly respectable. 😎

Let’s face it-Tether is playing a game normally reserved for nation-states. When Ardoino says the world is “getting darker” and they’re hedging with safe assets, it’s not just PR fluff. He’s hinting at something deeper: the dollar, the very thing Tether’s USDT stablecoin is pegged to, might not be looking so hot in the long run. And Tether is preparing for that rainy day, my friends. 🌧️

Meanwhile in El Salvador…

In a move that only added fuel to the fire, El Salvador announced it had purchased 13,999 troy ounces of gold (worth about $50 million). This marks its first gold purchase since 1990! Oh, and let’s not forget that they still own $700 million worth of Bitcoin (6,292 BTC). Coincidence? While Tether claims it hasn’t sold any Bitcoin to fund gold, here’s El Salvador doing exactly that. 😅

The IMF, of course, quickly pointed out that El Salvador hasn’t bought any new Bitcoin since February. But gold? Ah, gold-how old-world of them. 🤷‍♂️ It’s a curious split in playbooks: traditional institutions continue to favor gold, while the Bitcoin crowd stacks their digital gold. Tether, meanwhile, is sitting comfortably in both worlds, hedging their bets like the smooth operators they are. 😏

The Takeaway

So, Tether’s swift denial isn’t just about settling a petty YouTube rumor-it’s a signal of confidence in their Bitcoin-first strategy. The transfer of nearly 20,000 BTC to XXI shows that Tether is doing more than just managing its balance sheet passively; they’re actively building the future of Bitcoin-native infrastructure. 🏗️

Call it paranoid prepping or financial brilliance-either way, Tether isn’t dumping Bitcoin. No, no, they’re simply digging in deeper, securing their position in the vault of hard money. 🏰

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2025-09-08 00:32