Tether Holds 150,000 BTC Valued at $11.5 Billion, Funded by Stablecoin Profits

Tether, the issuer of the USDT stablecoin, has accumulated approximately 150,000 Bitcoin, a holding valued at around $11.5 billion, according to statements from its CEO, Paolo Ardoino. This significant position places Tether among the largest corporate holders of Bitcoin.

Ardoino revealed the Bitcoin holdings on November 3 during the Plan ₿ Forum in Lugano, Switzerland. The company’s strategy for acquiring Bitcoin involves allocating up to 15% of its net realized operating profits toward Bitcoin purchases. This policy, initiated in May 2023, marks a strategic shift to invest earnings from its stablecoin business into the cryptocurrency.

Comparative Holdings

With its 150,000 BTC, Tether’s holdings rival those of major corporate treasuries. It surpasses most publicly listed companies that hold Bitcoin, though it remains behind Strategy, which holds a significantly larger amount of 849,327 BTC. Tether’s reported stack represents approximately 18% of Strategy’s holdings, positioning the stablecoin issuer as a major corporate Bitcoin buyer.

Financial Foundation and Funding Model

The accumulation strategy is supported by Tether’s robust financial performance. The company reported a net operating profit of $4.5 billion for the first nine months of 2026, including $1.5 billion in the third quarter. During this period, USDT issuance remained near $184 billion. Tether’s third-quarter attestation indicated reserve assets totaling $191.45 billion against liabilities of $183.50 billion, resulting in excess reserves climbing to $7.95 billion.

Furthermore, Tether reported substantial exposure to US Treasury bills, with $132.4 billion in direct and indirect holdings. This significant investment in Treasury bills provides a consistent income stream that helps fund its Bitcoin strategy. This business model, which utilizes operating profits for Bitcoin accumulation, differentiates Tether from companies that rely on external fundraising, such as stock sales or debt offerings, to build their Bitcoin treasuries.

While Tether’s Bitcoin reserves were valued at $8.37 billion in its third-quarter USDT reserve report on September 30, Ardoino’s recent disclosure indicates a total position closer to $11.5 billion. The ongoing strategy highlights how profits generated from stablecoin operations can be channeled into substantial cryptocurrency investments, with USDT’s continued prominence in the market providing a recurring earnings engine for Tether’s long-term Bitcoin strategy.

Why This Matters

The materials describe a narrow update: Tether’s CEO, Paolo Ardoino, announced that the company holds approximately 150,000 BTC, valued at $11. The exact total amount of Bitcoin held by Tether.

Broader Context

Source materials place the factual news in this context: Tether’s Bitcoin holdings have reached 150,000 BTC, putting the company behind USDT among the world’s largest corporate Bitcoin holders.