Tether CEO Paolo Ardoino revealed that the stablecoin issuer now holds approximately 150,000 Bitcoin valued at over $11.5 billion, representing a significant increase from earlier in 2026 when it held around 100,000 BTC. According to reports from AMBCrypto, Ardoino made this disclosure during a Plan ₿ Forum presentation in Lugano, stating "We have give or take 150,000 bitcoin ourselves." The company has been purchasing Bitcoin as part of its investment strategy since introducing a policy in May 2023 to allocate up to 15% of quarterly net profits to cryptocurrency investments, with notable purchases including 8,888 BTC at the end of 2025. However, Ardoino did not provide a detailed breakdown of the specific wallets or acquisition schedule, leaving the timing and composition of the approximately 150,000 BTC position unclear.
The latest disclosure reveals a significant discrepancy between Tether's reported Bitcoin holdings and its official reserve disclosure. As reported by AMBCrypto, Tether's third-quarter attestation published on October 30 showed around $8.37 billion in Bitcoin reserves, implying roughly 100,060 BTC at September 30 valuations. This represents a substantial gap of approximately 50,000 BTC between Ardoino's estimated 150,000 BTC and the reserve report's valuation. The company's total reserve assets reached $191.45 billion against liabilities of approximately $183.50 billion, with the net surplus increasing to $7.95 billion from $4.11 billion in June. Ardoino's presentation has not made clear the connection between these investment returns and his Bitcoin estimate, leaving the allocation of the approximately 150,000 BTC position unexplained.
Tether's third-quarter attestation showed total reserve assets of $191.45 billion against liabilities of approximately $183.50 billion, with the company generating $1.5 billion in net operating profit during Q3, bringing its nine-month total to $4.5 billion. As reported by AMBCrypto, the company's direct and indirect exposure to U.S. Treasury bills reached approximately $132.4 billion at the end of September, with direct held U.S. Treasury bills accounting for around $122.84 billion and overnight reverse repurchase agreements adding $9.52 billion. Despite Bitcoin's volatility, Tether's Bitcoin purchases come from profits, not reserves backing USDT, protecting the stablecoin's peg. The company's business model separates it from companies like Strategy which rely heavily on stock sales and debt offerings to expand their treasury, while Tether can allocate a portion of its operating profits toward BTC investments.
According to Ardoino's presentation, Tether serves more than 730 million users globally, with approximately 30 million new wallets added every quarter. As reported by AMBCrypto, he described this expansion as part of the company's continuing financial inclusion efforts. The company's USDT issuance remained near $184 billion during the first nine months of 2026, with Treasury-related income contributing to earnings. Beyond Bitcoin, Tether's investments include precious metals, government securities, and other financial assets. The company has also invested in gold, energy, Bitcoin mining infrastructure, and other technology projects, with Bitcoin remaining one of its most prominent long-term investment positions.
Ardoino introduced the Independence Stack, a technology initiative designed to operate without depending entirely on centralized service providers. According to AMBCrypto, the project brings together several technologies including solar-powered battery kiosks serving communities across Africa, where approximately 5,000 kiosks currently serve 2 million users and support 30,000 women working within the network. The company has outlined plans to reach 100,000 kiosks over five years, potentially serving 200 million people. Bitcoin mining forms another component, with Tether securing support from 15 mining companies including Bitmain, Bitdeer, Canaan, MicroBT, Foundry Digital and F2Pool for its open-source Mining Development Kit. This initiative comes amid evolving global crypto regulations, with Tether aiming to ensure its technology operates independently of the company's existence.
