Tether CEO estimates company holds 150,000 Bitcoin

Tether CEO Paolo Ardoino said the company holds approximately 150,000 Bitcoin, describing a substantial corporate position during a November 3 keynote at the Plan Forum in Lugano, Switzerland. The estimate, which Ardoino presented without a detailed holdings breakdown, would put Tether among the largest corporate Bitcoin holders, although the company’s latest reserve attestation reports a Bitcoin figure measured at an earlier date and on a different stated basis. Tether’s September 30 attestation valued its Bitcoin reserves at $8.37 billion. The company separately reported total reserve assets of $191.45 billion against liabilities of about $183.50 billion. Those figures do not establish a direct reconciliation with Ardoino’s later estimate of the company’s total Bitcoin holdings: the reports do not specify whether the figures cover the same holdings or valuation basis. The attestation also showed excess reserves of $7.95 billion, up from $4.1 billion at the end of June, and $1.5 billion in net operating profit for the third quarter. Tether said its net operating profit for the first nine months of 2026 was $4.5 billion. Its reported direct and indirect exposure to U.S....