Photo: Tether / CoinDesk
Tether holds about 150,000 bitcoin, CEO Paolo Ardoino said during a keynote at the Plan ₿ Forum in Lugano, Switzerland, CoinDesk reported Tuesday. CoinDesk valued the holdings he described at roughly $11.5 billion at prices cited in its November 3 report.
“We have give or take 150,000 bitcoin ourselves,” Ardoino said, according to CoinDesk. He did not specify when the coins were acquired or where they are held.
The total Ardoino cited is about 50,000 BTC above the holdings implied by Tether International’s latest report on the reserves backing USDT, according to CoinDesk. That difference does not establish a new 50,000 BTC purchase: Ardoino gave no acquisition date or explanation of the gap, the report said.
CoinDesk reported that Tether’s proprietary investments are kept separate from the reserves backing its dollar-pegged stablecoin. Ardoino did not say whether those separate investments account for the difference. His remarks describe approximate holdings, not a newly announced transaction.
JBizNews Desk
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