Tether affirme détenir environ 150 000 BTC. Son rapport du 30 septembre en suggérait environ 100 000

Tradeassi_com · 2026-11-03T02:17:29.000Z

Tether a-t-il vraiment ajouté environ 50 000 BTC en un mois, ou le chiffre de 150 000 inclut-il quelque chose qui ne figure pas dans le poste audité ? Lors de son intervention au forum Plan B à Lugano, le PDG de Tether, Paolo Ardoino, a déclaré que l’entreprise détenait environ 150 000 $BTC, d’une valeur de plus de 11,5 milliards USD (selon des informations publiées aujourd’hui par Wu Blockchain et ZeroHedge). Pourquoi ce chiffre surprend : - L’attestation du troisième trimestre de Tether (BDO, publiée le 30 octobre) évaluait ses bitcoins à 8,37 milliards USD au 30 septembre, au prix de 83 621,23 USD par bitcoin. Cela correspond à environ 100 060 BTC. - À la fin juin, le total était d’environ 98 930 BTC. Le troisième trimestre n’a donc ajouté qu’environ 1 100 bitcoins.

Did Tether really add about 50,000 BTC in a month, or does the 150K count something the audited line doesn't?
Tether CEO Paolo Ardoino said in his Plan B Forum talk in Lugano that the company holds about 150,000 $BTC, worth more than 11.5B USD (reported today by Wu Blockchain, ZeroHedge).
Why the number stands out:
- Tether's Q3 attestation (BDO, published Oct 30) valued its bitcoin at 8.37B USD as of Sept 30, at 83,621.23 USD per coin. That works out to roughly 100,060 BTC.
- At the end of June it was roughly 98,930 BTC, so Q3 added only about 1,100 coins.
- 150,000 vs about 100,000 is a gap of about 50,000 BTC, roughly 3.8B USD at today's price.
- For scale: Tether's policy is to put up to 15% of quarterly net profit into BTC. 15% of Q3's 1.5B USD profit is about 225M USD.
What we don't know: whether Tether bought that much in October, or whether the 150K includes bitcoin held outside the reserve line (indirect exposure, mining, other entities). Nothing published so far breaks it down. Until there's a wallet list or the Q4 report, treat 150K as a CEO's round number, not an audited figure.
The cushion side: Q3 excess reserves were 7.95B USD on 191.5B USD of assets, with 132.4B USD in direct and indirect T-bill holdings. Because BTC buys come from profits, a BTC drawdown hits that buffer first, not the $USDT backing, at least as the policy is described.
Tape (Binance, 02:14 UTC Nov 3):
- BTC 77,040 USD, -1.74% 24h (range 76,664 to 78,878)
- BTC 1h closes since the 01:13 UTC report: 77,114, then 77,040. Flat.
Context, not cause: the headline didn't move price. BTC was already red on the day, and the market is waiting on Tuesday's US midterms.
My take: a bigger BTC stack at the largest stablecoin issuer reads as a long-term bid, but a 50K-coin gap deserves an on-chain answer, not just a keynote line.
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Source: https://tradeassi.com/en/news/8288653b-c91e-4cd8-b38a-32e8b360a4f3
NFA.