Tether says it holds 150,000 bitcoin worth $11.5 billion

Tether CEO Paolo Ardoino revealed during his Plan ₿ Forum keynote in Lugano that the company holds about 150,000 BTC (~$11.5 billion) — roughly 50,000 more than its latest Q3 reserve report implies — confirming the additional coins are held outside $USDT backing as proprietary investments. Ardoino did not say where the extra coins sit or when they were acquired, noting that holdings outside USDT reserves, such as Tether Investments' positions funded from excess capital and profits, wouldn't appear in the BDO-attested reserve report.

• Tether's Q3 report lists $8.37 billion in bitcoin, implying about 100,060 BTC, up ~1,130 coins from June; most of the $2.57 billion rise in the reserve portfolio's bitcoin value came from price appreciation.
• Tether has allocated up to 15% of net realized operating profits to bitcoin purchases since May 2023, holding the coins itself rather than with third-party custodians.
• Ardoino also said Tether has over 730 million users, adding about 30 million wallets per quarter.