Tether Says It Owns 150,000 Bitcoin, but Where Are the Other 50,000 Coins?

TLDR Tether CEO Paolo Ardoino says the company holds about 150,000 Bitcoin, worth roughly $11.5 billion. Tether’s Q3 reserve attestation implies only about 100,060 BTC. The gap of roughly 50,000 coins is worth close to $3.8 billion. Ardoino did not say where the extra coins are held or when they were bought. Tether’s Q3 excess reserve cushion rose to $7.95 billion, nearly double June’s level. Tether CEO Paolo Ardoino says the company holds about 150,000 Bitcoin. That stake is worth roughly $11.5 billion at current prices. The number is about 50,000 coins higher than what Tether’s latest reserve report shows.