Tether CEO Paolo Ardoino has rejected the proposal that Stablecoin Company is offloading Bitcoin Holdings to buy gold.
Ardoino said Tether, the publisher of the world’s largest Stablecoin USDT, in an X post on Sunday, “we didn’t sell Bitcoin.”
Tether’s CEO, responding to a proposal from YouTuber Clive Thompson, showed that the company’s reserve Secoind Quarter certified data fell to 83,274 from 92,650 BTC in the first quarter.
Samson Mow, CEO of Bitcoin Technology Company Jan3, responded to Thompson’s post and pointed out that Tether sent 20,000 BTC to Bitcoin Treasury Company Twenty One Capital (XXI).
“The right thing,” Aldoino said in response to Mow’s post. “As Samson states below, (Tether) contributed some of its stash to XXI.”
“The world continues to get darker, but Tether continues to invest some of its profits in safe assets such as Bitcoin, gold and land,” added Aldoino.
Tether already has $8.7 billion worth of gold sticks and is reportedly planning to invest in precious metal mining.
