Tether CEO Paolo Ardoino said his company is holding more than 100,000 Bitcoins along with 50 tons of gold after a spectacular 2024 with a profit of 13 billion USD.
Tether reveals a massive reserve of Bitcoin and gold. Photo: Cointelegraph
At the Bitcoin 2025 Conference currently being held in Las Vegas (USA), the CEO of the stablecoin issuing company Tether (USDT), Mr. Paolo Ardoino, made surprising disclosures about the organization's investment activities.
When sharing about Tether's operational situation in recent times, the CEO stated that the company has achieved a profit of over 13 billion USD in 2024, largely coming from holding over 120 billion USD in reserve assets for USDT in the form of US Treasury bills to generate profit.
As a result, the company allocated a portion of its profits to invest in safe assets, leading to the accumulation of more than 100,000 Bitcoins (over 10.6 billion USD) along with 50 tons of gold (over 5 billion USD).
The above information was also confirmed in the Q1/2025 asset report published by the company last month.
Sharing about the reason for holding more gold, Mr. Ardoino stated:
"Many Bitcoin investors do not like to talk about gold because they think gold will take value away from Bitcoin. But that is not true. Bitcoin is a perfect asset. Gold is not. Gold does not compete with Bitcoin; it competes with fiat money, so we want to allocate a portion of our assets to that for hedging."
In other metrics, Tether is also the leading stablecoin solution in terms of market capitalization with over 153 billion USDT in circulation, accounting for 62% of total global CEX trading volume, more than 420 million global users, with 35% of them holding USDT as a savings asset.
The record profit level of 2024 has made Tether one of the most successful companies in the history of the cryptocurrency industry, as well as having the highest profit margin per employee in the world.
Recently, Tether has been expanding into many other areas, including building AI applications, investing in traditional companies, coordinating to establish a BTC investment fund with other major players, as well as appointing a new Chief Financial Officer to prepare for a comprehensive audit. The company also intends to issue its own stablecoin for the US market in anticipation of the country's announcement of stablecoin regulatory management.
