In the turbulent world of cryptocurrency, Tether's CEO Paolo Ardoino has responded to rumors about a Bitcoin sell-off with clear statements.
Denial of Bitcoin Sell-Off Rumors
Rumors that Tether sold a portion of its Bitcoin reserves for gold emerged after an analysis of quarterly reports. CEO Ardoino clarified that these rumors are untrue and that Tether did not conduct any Bitcoin sales. The reduction in Bitcoin holdings is due to transfers into the new investment initiative XXI.
Tether's Asset Allocation Strategy
Ardoino mentioned that the company will continue to channel profits into Bitcoin, gold, and land as hedging measures. He emphasized that Tether is not retreating from Bitcoin, but rather strengthening its position. Despite market uncertainties, Tether remains optimistic about the future of cryptocurrencies.
Future of Tether and Bitcoin
According to Ardoino, Tether currently holds over 100,000 BTC and is looking for growth opportunities as market changes approach. He also highlighted that the company aims to become the largest miner by year-end, which could further strengthen its position in the volatile crypto market. This reflects the company's serious approach to developing its business and enhancing financial performance.
The situation around Tether and the rumors of Bitcoin sales highlight its evolution into a mature player in the crypto sector, focused on hedging strategies and investment initiatives.
