Tether Reveals Massive Bitcoin and Gold Holdings, Reports $13 Billion Profit in 2024

Speaking at the recent Bitcoin 2025 conference in Las Vegas, Paolo Ardoino, CEO of Tether—the world’s leading issuer of the U.S. dollar-pegged stablecoin USDT—revealed the scale of the company’s impressive reserves. According to Ardoino, Tether currently holds more than 100,000 bitcoin, valued at over $10 billion, alongside an astonishing 50 tons of physical gold.

Ardoino’s presentation highlighted Tether’s outstanding financial performance in 2024, when the company generated approximately $13 billion in profit. This remarkable figure places Tether firmly among the most profitable enterprises in the cryptocurrency space, underscoring its significant role within the broader digital asset economy.

Addressing a crowd primarily composed of Bitcoin enthusiasts, Ardoino carefully explained Tether’s substantial gold holdings. He clarified that the company's gold reserves should not be viewed as a competitor to Bitcoin, but rather as an alternative asset to traditional fiat currencies. "Many bitcoiners don't like talking about gold, as if gold detracts from Bitcoin. That's not the case," Ardoino emphasized. "Bitcoin is perfect; gold is imperfect. Gold competes with fiat, not with Bitcoin—and that's why we maintain a small portion in gold."

Tether’s most recent reserve report, covering the first quarter of 2025, detailed assets exceeding $7 billion in bitcoin and over $6 billion in physical gold bars. These figures were based on a bitcoin valuation of approximately $83,000, although the cryptocurrency has since surged to new heights, recently surpassing $109,000. Meanwhile, other major financial institutions are similarly increasing their exposure to Bitcoin, with firms like Cantor Fitzgerald Asset Management launching products designed to combine Bitcoin exposure with gold-based downside protection.