Tether says bitcoin holdings reach about 150,000 tokens as crypto investments extend beyond USDT reserves

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Tether bitcoin holdings reach 150k

Highlights

Tether CEO Paolo Ardoino states the company holds about 150,000 bitcoin, valued at approximately $11.5 billion, but does not specify acquisition timing.
Tether International’s Q3 reserve report lists $8.37 billion in bitcoin, with holdings increasing by about 1,130 BTC quarter-over-quarter, driven mainly by price appreciation.
Tether’s reserve assets total $191.45 billion versus $183.50 billion in liabilities at September-end, raising excess reserves to $7.95 billion from $4.11 billion in June.

Reserve report and disclosed bitcoin position

As reported by CoinDesk, Tether CEO Paolo Ardoino says the stablecoin issuer holds about 150,000 bitcoin, worth roughly $11.5 billion at current prices, during his Plan ₿ Forum keynote in Lugano, Switzerland. Ardoino does not say where the additional coins are held or when they were acquired, so the comment does not by itself indicate a fresh purchase of roughly 50,000 BTC.

Tether International’s third-quarter reserve report lists $8.37 billion in bitcoin valued at $83,621.23 per coin, implying holdings of about 100,060 BTC. That compares with roughly 98,930 BTC at the end of June, an increase of about 1,130 BTC during the third quarter.

Most of the $2.57 billion increase in the reserve portfolio’s bitcoin value comes from price appreciation rather than new accumulation, based on CoinDesk calculations from the company’s two reports. Ardoino’s remarks come as he discusses Tether’s support for the Bitcoin ecosystem and says the company has more than 730 million users worldwide, with wallet growth of 30 million per quarter.

Implications for Tether’s balance sheet and crypto market

Tether has previously said proprietary investments held through Tether Investments are funded from excess capital and profits and are kept separate from the reserves backing USDT. Those assets would not appear in the reserve report, although Ardoino does not explicitly say whether that accounts for the difference between the reported reserve holdings and his broader bitcoin figure.

The company reports $191.45 billion in reserve assets against $183.50 billion in liabilities at the end of September. Its excess reserves rise to $7.95 billion from $4.11 billion in June, strengthening the financial cushion above liabilities.

Tether announced in May 2023 that it would regularly allocate up to 15% of net realized operating profits to bitcoin purchases. The company also says it holds the coins itself rather than relying on third-party custodians, a strategy that keeps its bitcoin exposure closely tied to its own treasury and investment operations.

Our earlier article on Equites Property Fund’s interim results highlighted how the group lifted its interim distribution after accelerating its exit from the UK and recycling capital into South Africa. We noted that the Aviva portfolio sale helped cut leverage, build liquidity and support guidance, underscoring how shifts in asset mix and capital deployment can strengthen a company’s financial cushion.

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