Paolo Ardoino clarified that Tether has increased, not reduced, its bitcoin holdings after transferring thousands of BTC into a new investment vehicle backed by major partners.
(Photo of Vadim Artyukhin on Unsplash)
Posted September 8, 2025 at 9:50 am EST.
Tether CEO Paolo Ardoino dispelled rumors that the company had been selling its bitcoin holdings.
“Tether didn’t sell any Bitcoin. As Samson says below, it contributed part of its stash into XXI,” said Ardoino, referring to Bitcoin advocate Samson Mow’s comments explaining Tether’s BTC transfers to XXI.
XXI, otherwise known as Twenty One Capital, is a bitcoin-focused investment vehicle, backed by Tether, Cantor Fitzgerald and SoftBank. In June, Tether transferred 14,000 BTC to XX1, followed by another 5,800 BTC in July.
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“So that means at the end of Q2 2025, Tether would have had 4,624 BTC more than at the end of Q1 2025,” said Mow on X.
“If you combined it with the July transfer then Tether has (at least) a net increase in Bitcoin holdings of 10,424 BTC.”
