The CEO of Tether, Paolo Ardoino, has dismissed suggestions that the Stablecoin company has been downloading its Bitcoin holdings to buy gold.
Ardoino said that Tether, a largest USDT stablcoin issuer in the world, “did not sell any bitcoin,” in an X post on Sunday.
The CEO of Tether was responding to the suggestions of YouTuber Clive Thompson that the certification data of the Dryind neighborhood of the company’s reserves showed a fall of 92,650 BTC in the first quarter to 83,274.
Samson Mow, CEO of Bitcoin Technology Company, Jan3, responded to Thompson’s Post, noting that Tether had sent almost 20,000 BTC to Bitcoin Treasury Company Twenty One Capital (XXI)of which Tether is a majority shareholder.
“Correct,” said Ardoino in response to Mow’s publication. “As Samson says below, [Tether] He contributed part of his stash in XXI. “
“While the world continues to obscure, Tether will continue to invest part of his earnings in safe assets such as Bitcoin, Gold and Land,” Ardoino added.
Tether already has gold bars worth $ 8.7 billion and it has been reported that he plans to invest in precious metal mining.
