Adjusting for these transfers, Tether's Bitcoin holdings actually increased by at least 10,424 BTC in the second quarter of 2025, contradicting rumors of a sell-off.

Currently, Tether controls over 100,521 BTC, making it one of the largest institutional Bitcoin holders alongside entities like MicroStrategy and some sovereign nations.

Tether is diversifying its assets as a strategic hedge, reflecting concerns about the long-term stability of the dollar and traditional fiat assets.

Given Tether’s significant role in the crypto market through its USDT stablecoin, its investment decisions are highly influential.

Tether has transferred over 37,000 BTC, valued at about $3.9 billion, to support XXI, a Bitcoin-native platform led by Strike CEO Jack Mallers, but this was a transfer, not a sale, and its total BTC holdings remain over 100,521 BTC, worth approximately $11.17 billion.

Tether’s CEO Paolo Ardoino emphasized that Bitcoin remains central to its strategy, with profits reinvested into Bitcoin, gold, and land, viewing these as reliable stores of value.

Tether’s actions suggest a strategic move to reinforce its position as a 'hard-money' reserve, actively investing in Bitcoin and other assets rather than selling.

Ardoino denied rumors that Tether sold Bitcoin to buy gold, affirming that no Bitcoin was sold and that transfers to XXI were part of strategic investments.

He clarified that the Bitcoin was transferred, not sold, and highlighted Tether’s ongoing commitment to investing in secure assets despite global uncertainties.

On X, Ardoino confirmed Tether did not sell any Bitcoin and explained that the transfers to XXI were strategic investments, not disposals.

El Salvador bought approximately $50 million worth of gold, its first gold purchase since 1990, while maintaining a Bitcoin reserve of 6,292 BTC, with no new Bitcoin purchases since February according to the IMF.

Speculation from YouTuber Clive Thompson suggested Tether reduced its Bitcoin holdings based on a drop from 92,650 BTC in Q1 to 83,274 BTC in Q2, but this was debunked by Samson Mow, CEO of Jan3.

Mow clarified that the apparent decrease was due to transfers of 19,800 BTC into Tether’s XXI initiative, not a sale, countering rumors of a Bitcoin sell-off.