The decrease in Bitcoin reserves at Tether drew attention and caused numerous disputes regarding a potential sale. However, the situation is much more complex and requires detailed analysis.
Decrease in Tether's Reserves
A recent publication by YouTuber Clive Thompson highlighted a significant drop in Tether's Bitcoin reserves between the first and second quarters of the year. According to reports, reserves fell from 92,650 BTC in Q1 to 83,274 BTC in Q2, a decrease of 9,376 BTC. This raised suspicions of a possible asset sale.
Clarifications from Tether's Management
In response to the rumors, Paolo Ardoino, CEO of Tether, firmly stated that the company did not sell any Bitcoins, noting that these BTC remain under Tether's control and are intended to support Bitcoin-based initiatives. He emphasized: 'Tether didn't sell any Bitcoin.'
Diversification of the Company's Investments
Ardoino further reinforced Tether's commitment to diversifying its investments, stating that the company intends to invest part of its profits into safe assets, including Bitcoin, gold, and land. The transfer of 37,000 BTC to Twenty One Capital, valued at around $3.9 billion, demonstrates Tether's willingness to support infrastructures related to Bitcoin.
Therefore, the changes in reserves and Tether's strategy reflect more an asset redistribution than a sale. This underscores the importance of various approaches in uncertain market conditions.
