Tether Bitcoin sell-off claims are false: Tether CEO Paolo Ardoino confirmed Bitcoin was transferred into Twenty One Capital (XXI) rather than sold, and Tether’s net BTC reserves rose after accounting for inter-entity transfers and subsequent allocations.
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Q2 decline reflected transfers into XXI, not liquidation.
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Independent analysis missed 19,800+ BTC moved to Twenty One Capital in June–July 2025.
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Tether’s reserves now exceed 100,000 BTC and include added exposure to gold and land.
Tether Bitcoin sell-off: Tether denies selling BTC, clarifying transfers to XXI and reporting net reserve growth; read the timeline, expert quotes, and key takeaways now.
Tether CEO Paolo Ardoino denies Bitcoin sell-off claims, clarifying transfers to XXI and affirming the firm’s diversified asset strategy.
- Analyst Clive Thompson misread Tether’s Q2 attestation, mistaking Bitcoin transfers for a sell-off into gold investments.
- Samson Mow explained Tether moved nearly 20,000 BTC to XXI, confirming the company increased holdings instead of reducing them.
- Tether’s reserves now exceed 100,000 BTC, with additional exposure to gold and land, supporting its diversified investment model.
What happened to Tether’s reported Bitcoin holdings in Q2 2025?
Tether Bitcoin holdings appeared to decline in the Q2 attestation because nearly 20,000 BTC were transferred into Twenty One Capital (XXI), an investment vehicle, not sold on the market. Paolo Ardoino and Samson Mow clarified that transfers created a reporting gap; net positions rose once inter-entity movements were included.
Why did analysts misinterpret the attestation data?
BDO’s attestation shows custody-level snapshots that can omit intra-group transfers. Independent analyst Clive Thompson compared quarter snapshots and saw a drop from 92,650 BTC to 83,274 BTC, concluding a liquidation. However, Samson Mow and Tether CEO Paolo Ardoino noted that 14,000 BTC moved in June and 5,800 BTC in July to Twenty One Capital (XXI), which Thompson’s snapshot did not account for.
How do transfers into Twenty One Capital (XXI) affect net reserves?
When transfers into XXI are included, Tether’s net Bitcoin position increases. Data cited by company spokespeople indicates a net gain of 4,624 BTC by Q2 accounting and a net increase of 10,424 BTC following July transfers. Ardoino emphasized the distinction: funds were moved, not sold.
What is Tether’s broader reserve strategy?
Tether’s reserves now emphasize diversification across Bitcoin, physical gold, and land. Paolo Ardoino stated profits are allocated to assets seen as stores of value. The firm’s gold-backed token XAUT has market capitalization signals consistent with growing gold exposure. This multi-asset approach aims to balance liquidity and long-term reserve strength.
Analyst timeline and numbers — comparative table
| Metric | End Q1 2025 | End Q2 2025 (snapshot) | Adjusted (including XXI transfers) |
|---|---|---|---|
| Reported BTC holdings | 92,650 BTC | 83,274 BTC | ~98,898 BTC (adjusted) |
| Transfers to XXI | — | — | 14,000 BTC (June) + 5,800 BTC (July) |
| Net position change | — | Reported decline | Net increase of 4,624 BTC by Q2; 10,424 BTC after July |
Who provided the clarification and what are the sources?
Paolo Ardoino (Tether CEO) publicly denied any Bitcoin sell-off. Samson Mow (CEO, Jan3) detailed the XXI transfers. Independent analyst Clive Thompson raised the initial concern based on BDO attestation figures. These names and BDO attestation are cited as primary sources of the analysis and clarification (plain text references).
Frequently Asked Questions
Did Tether sell Bitcoin in Q2 2025?
No. Tether CEO Paolo Ardoino confirmed Bitcoin was transferred into Twenty One Capital (XXI) rather than sold. Accounting for those transfers shows Tether’s net Bitcoin position increased over the reporting period.
How much Bitcoin did Tether move to Twenty One Capital?
Tether moved approximately 14,000 BTC in June and 5,800 BTC in July 2025 into XXI, totaling nearly 19,800 BTC, according to statements from Samson Mow and Tether management.
Does Tether hold other assets besides Bitcoin?
Yes. Tether’s reserve strategy includes Bitcoin, physical gold exposure (reflected in the XAUT token market capitalization), and land assets. The firm says profits are allocated to a mix of stores of value.
Key Takeaways
- Transfers, not sales: Q2 reporting gaps were caused by transfers into Twenty One Capital, not market liquidation.
- Net reserve growth: Adjusted figures show Tether’s BTC position increased after accounting for inter-entity moves.
- Diversified reserves: Tether continues to allocate to Bitcoin, gold, and land to balance liquidity and long-term value.
Conclusion
In summary, the Tether Bitcoin sell-off narrative stemmed from a misreading of quarterly snapshots. Tether reserves actually rose when transfers into Twenty One Capital were included. The company maintains a diversified reserve strategy and continues to report updates; readers should follow official attestations and company statements for verified figures.
Published: 2025-08-05 | Updated: 2025-08-07 | Author: COINOTAG
