Tether CEO Paolo Ardoino said at the Plan ₿ Forum in Lugano that Tether itself holds around 150,000 $BTC , worth about $11.5 billion at current prices. Interestingly, Tether’s latest Q3 reserve report lists only about $8.37 billion in Bitcoin, equivalent to roughly 100,000 BTC. That means the remaining 50,000 BTC haven’t been accounted for—where they’re held or when they were bought. CoinDesk also cautioned that this doesn’t mean Tether just bought 50,000 BTC; they may be held by an investment arm outside the reserves. Ardoino also said that USDT has more than 730 million users, with around 30 million new wallets added each quarter. My take: this figure has only been disclosed verbally for now and hasn’t been verified on-chain, so don’t read too much into it yet. Still, given its scale, Tether is already one of the largest Bitcoin holders, which also adds to the $USDT narrative. #Tether #比特币 For reference only; this is not investment advice.