Tether CEO Paolo Ardoino took to X yesterday and responded to rumors about his company selling Bitcoin holdings to buy gold.
The USDT stablecoin creator wrote, “Tether didn’t sell any Bitcoin.” He added that Tether is investing profits into valuable assets like Bitcoin, gold, and even land.
Ardoino denies offloading any Bitcoin
The rumor spread over social media after a YouTuber named Clive Thompson posted a video titled “Tether is Selling Bitcoin and Buying Gold! What Do They Know?” The video spread fear among crypto enthusiasts.
In the video, Thompson claimed Tether sold some of its Bitcoin holdings after comparing the company’s attestation data from Q1 and Q2 of this year. He showed a drop of Tether’s BTC holdings…