Tether Holds 150,000 Bitcoin Worth $11.5B, CEO Discloses

A Massive Bitcoin Stash Revealed in Switzerland

Imagine checking your treasury and finding billions of dollars more than expected. That is essentially what happened when TetherUSDT+0.21% CEO Paolo Ardoino spoke at the Plan ₿ Forum in Lugano, Switzerland.

During his keynote address, Ardoino shared a surprising figure about the stablecoin issuer's reserves. He revealed that Tether controls approximately 150,000 Bitcoin (BTCBTC+1.39%). At a market price around $77,000 per coin, that treasure chest is worth roughly $11.5 billion.

We have give or take 150,000 bitcoin ourselves. It's not much, but it's honest work.

Ardoino made the comment lightheartedly, but the figure carries immense financial weight. If accurate, Tether ranks among the largest corporate holders of Bitcoin in the world.

For comparison, Strategy leads corporate holdings after reporting 849,327 BTC in its latest purchase update. Data from Bitcoin Treasuries.net shows Tether would be the single largest disclosed privately held corporate holder.

Rapid Global Growth Across 730 Million Users

Paolo Ardoino did not only discuss Bitcoin reserves during his presentation. He also highlighted key statistics about Tether's rapid global growth.

According to the CEO, Tether currently serves more than 730 million users worldwide. The adoption rate remains steady and rapid across multiple international markets.

Ardoino pointed out that approximately 30 million new crypto wallets join the Tether ecosystem every single quarter. This continuous expansion underscores Tether's central position in digital financial markets.

Comparing the CEO Statement with Audited Reserve Reports

The revelation of a 150,000 BTC portfolio naturally raised questions among industry analysts. That is because the figure is much higher than recent official audit reports showed.

In Tether International's third-quarter 2026 reserve attestation, prepared by accounting firm BDO, the numbers were different. As of September 30, BDO listed $8.367 billion in Bitcoin holdings.

Using the reference price in the BDO report, $8.367 billion equals just over 100,000 BTC. That leaves a gap of around 50,000 BTC between the audited report and Ardoino's statement.

At current market prices, that 50,000 BTC difference represents approximately $3.87 billion in cryptocurrency assets.

Does this discrepancy mean assets are missing? Not necessarily. There is a simple structural reason why these figures might differ.

The quarterly attestation from BDO examines reserves supporting the circulating USDT stablecoin. Proprietary investments held by parent companies or affiliated businesses often fall outside that specific report.

In May 2023, Tether announced a policy to dedicate up to 15% of net operating profits toward buying Bitcoin. This strategy explains how additional Bitcoin could accumulate beyond official USDT backing reserves.

However, Tether has not provided a full breakdown detailing acquisition dates, custody arrangements, or corporate ownership for those additional coins.

What Onchain Blockchain Data Shows

Public blockchain data gives clear insight into Tether's primary onchain holding patterns.

A Bitcoin address publicly attributed to Tether, beginning with bc1qjasf9z3h7w3jspk, holds 96,932.40697348 BTC. At current prices, that wallet contains nearly $7.5 billion worth of Bitcoin.

This wallet stands as the fifth-largest Bitcoin address by balance across the entire network. Onchain statistics reveal key operational details about this address:

• The address became active on September 30, 2022.
• It received 112,340.77 BTC across 212 incoming transactions.
• It transferred 15,408.36 BTC across 204 outgoing transactions.

This single wallet holds about 64.6% of the total 150,000 BTC described by Ardoino. That leaves an estimated 53,068 BTC held in other corporate wallets.

Onchain records show that funds in this address came directly from Bitfinex, a central exchange owned by Tether's parent company. While blockchain ledgers are permanent, verifying control over other addresses requires signed messages or formal disclosures.

Treasuries, Gold, and Financial Operations

Beyond cryptocurrency holdings, traditional assets anchor Tether's broader balance sheet.

Tether's September report listed $191.45 billion in total reserve assets against $183.50 billion in liabilities. This structure resulted in approximately $7.95 billion in excess reserves.

The company maintains large holdings across conventional financial instruments:

• Direct and indirect U.S. Treasury bill exposure reached $132.4 billion.
• Physical precious metals reached $19.08 billion, equal to roughly 142.8 metric tons of gold.
• Tether's gold token project (XAUTXAUT-0.18%) holds an additional 25.7 metric tons of gold.

In total, Tether controls approximately 168.5 metric tons of physical gold. Meanwhile, circulating USDT supply stands at 179.12 billion tokens.

Tether also reported generating $1.5 billion in net operating profit during the third quarter of 2026.

Managing Operational Risk and Market Dynamics

Managing a multi-billion dollar portfolio across government bonds, bullion, and digital assets requires strong financial controls.

Treasury bills offer predictable interest income, physical gold requires vault storage, and cryptocurrencies experience price fluctuations. Past performance of digital assets or corporate operations is not an indicator of future results.

Readers can review live market data and asset trends directly on Bitkub Market. As Tether expands, robust internal controls will be critical to navigating liquidity and counterparty risks.