President #Tether : We own 100,000 Bitcoins and 50 tons of gold
Paolo Ardoino, the CEO of Tether, the largest issuer of the stablecoin #USDT linked to the dollar globally, stated that his company currently owns more than 100,000 Bitcoins, exceeding a value of 10 billion dollars, as well as more than 50 tons of gold.
Ardoino revealed that Tether achieved profits estimated at around 13 billion dollars in 2024, making it likely the most financially successful entity in the entire cryptocurrency sector.
Regarding Tether's gold holdings, Ardoino clarified during his participation in the "Bitcoin 2025" conference that gold does not compete with Bitcoin. He said: "Many Bitcoin users prefer not to talk about gold as if it would diminish the value of Bitcoin; this is impossible. Bitcoin is perfect, while gold is not."
He added: "Gold does not compete with Bitcoin; rather, it competes with fiat currencies, which is why we prefer to hold a little gold."
Source: The Block
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