Tether’s Bitcoin Holdings Actually Up, CEO Debunks BTC Dumping Claims
Tether CEO Paolo Ardoino has publicly addressed and dismissed circulating claims that the firm sold Bitcoin for gold. The controversy erupted on September 6, after YouTuber Clive Thompson suggested that Tether had quietly altered its investment strategy.
Citing the company’s statements of assets, Thompson alleged that the firm had sold over $1 billion worth of Bitcoin while acquiring $1.6 billion in gold during the last quarter. He suggested this was evidence that the firm was dumping Bitcoin in favor of gold, which led to speculation that the world’s largest stablecoin issuer was losing confidence in BTC.
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Bitcoin Price Analysis: BTC’s Path to New ATH Depends on Holding These Support Levels
Tether’s Bitcoin Holdings Actually Up, CEO Debunks BTC Dumping Claims
Tether CEO Paolo Ardoino has publicly addressed and dismissed circulating claims that the firm sold Bitcoin for gold. The controversy erupted on September 6, after YouTuber Clive Thompson suggested that Tether had quietly altered its investment strategy.
Citing the company’s statements of assets, Thompson alleged that the firm had sold over $1 billion worth of Bitcoin while acquiring $1.6 billion in gold during the last quarter. He suggested this was evidence that the firm was dumping Bitcoin in favor of gold, which led to speculation that the world’s largest stablecoin issuer was losing confidence in BTC.
Read More