Rumors that Tether sold its Bitcoin assets for gold have been denied by CEO Paolo Ardoino, who confirmed that the company holds both assets.
Denial of Bitcoin Sale Rumors
Tether CEO Paolo Ardoino firmly denied rumors suggesting that the company sold its Bitcoin for gold. Ardoino stated, 'We buy and hold both,' referring to Bitcoin (BTC) and gold.
Tether's Diversified Reserves
Tether, known for its USDT stablecoin, has been increasingly transparent about its reserve strategy. The company previously announced that it holds both Bitcoin and gold as part of its reserve assets. Ardoino's latest statement reaffirms that there has been no shift away from Bitcoin.
Market Reaction Remains Steady
Despite the rumors, the crypto market showed little volatility, indicating that traders are taking Ardoino’s clarification seriously. Bitcoin’s price remained stable, and there were no major movements in Tether’s market cap or gold prices.
In summary, Ardoino's denial reinforces Tether's stability in maintaining its reserves, which may signal confidence to investors.
