Tether, a prominent player in the stablecoin market, has publicly revealed its substantial holdings in leading digital and traditional assets. The company’s CEO, Paolo Ardoino, recently confirmed that Tether maintains a portfolio exceeding 100,000 Bitcoin (BTC) alongside a significant reserve of physical gold. This disclosure underscores Tether’s robust financial standing and its strategic diversification within the volatile digital asset landscape.
Tether’s Expansive Asset Portfolio
During a recent industry gathering, Paolo Ardoino detailed the scale of Tether’s reserves, positioning the company as one of the largest holders of both Bitcoin and gold within the cryptocurrency ecosystem. At current market valuations, Tether’s Bitcoin treasury alone represents over $10 billion. Furthermore, the company reported an impressive $13 billion profit in 2024, solidifying its position as the most profitable entity in the crypto sector by a considerable margin.
Strategic Approach to Gold Holdings
Addressing the common skepticism among Bitcoin enthusiasts regarding gold, Ardoino clarified Tether’s rationale for including the precious metal in its reserves. He articulated that gold is not seen as a rival to Bitcoin but rather as a hedge against traditional fiat currencies. “Bitcoin is perfect. Gold is imperfect,” Ardoino stated, emphasizing that “gold is not competing with Bitcoin; gold is competing with fiat and that’s why we like a little bit of gold.” This philosophy highlights a pragmatic approach to diversifying beyond digital assets while maintaining an anti-fiat stance.
Ambitious Foray into Bitcoin Mining
Beyond direct asset accumulation, Tether is also making significant strides in the Bitcoin mining sector. The company has invested over $2 billion in energy production and Bitcoin mining operations. Ardoino expressed confidence that Tether is on track to become the largest Bitcoin miner globally by the end of the year, potentially surpassing even publicly traded mining corporations. This aggressive expansion into mining signifies a deeper integration into the Bitcoin ecosystem and a commitment to its underlying infrastructure.
Transparent Financial Disclosures and Valuations
Tether’s Q1 2025 financial disclosures further illuminate its asset composition. The report confirmed substantial holdings, including over $7 billion in Bitcoin and more than $6 billion in standard physical gold bars. At the time of this report, the Bitcoin valuation was based on a price of approximately $83,000 per BTC. These disclosures underscore the scale and stability of Tether’s reserves, crucial for maintaining the peg of its stablecoin, USDT.
Investments Fueling Bitcoin Acquisition
Tether’s influence extends through strategic investments in related ventures. Twenty One Capital, a company backed by Tether and led by Strike founder Jack Mallers, has been actively raising capital to acquire more Bitcoin. The firm recently secured an additional $100 million through convertible notes, bringing its total capital raise to $685 million. This funding is specifically earmarked for Bitcoin purchases. Twenty One Capital had already deployed $458 million for BTC acquisitions earlier in the month, with an additional $3.6 billion secured as part of a SPAC merger with Cantor Equity Partners, which is listed on Nasdaq.
In a related development, Cantor Fitzgerald Asset Management, another entity associated with Tether, introduced a new product designed to offer direct exposure to Bitcoin with a unique 1-to-1 downside protection mechanism tied to the price of gold. This innovation further illustrates the intertwined strategies involving both Bitcoin and gold within Tether’s broader network.
Former Wall Street analyst turned crypto journalist, Marcus brings a decade of expertise in trading strategies, risk management, and quantitative research. He writes clear, actionable guides on technical indicators, portfolio diversification, and emerging DeFi projects.