Audit Reveals Tether Now Holds More Than $2.8 Billion in Bitcoin

Deniz Saat

January 31, 2024 @ 5:34 PM PT

Tether recently disclosed its financial status, indicating it holds over $2.8 billion in Bitcoin. This information was confirmed by an audit conducted by BDO, as reported in the auditor's official document.

Paolo Ardoino, CEO of Tether, provided a summary of the financial results in the Q4 2023 attestation.

https://twitter.com/paoloardoino/status/1752702607305691232

The audit report offers a detailed analysis of Tether's financial health, with an emphasis on its Bitcoin investments.

As the issuer of the USDt stablecoin, Tether has been a key player in the market, enabling transactions and maintaining a stable peg to the U.S. Dollar.

Paolo Ardoino, CEO of Tether, expressed optimism for 2024, highlighting the launch of new projects and products.

I'm really excited by Tether's expansion. While Tether is mostly known for one product (USDt), the Company is becoming an investor and infrastructure builder in many strategical sectors, spacing from AI to P2P telecommunications, from Bitcoin mining to renewable energy production.

In the last quarter, Tether reported a profit of $2.85 billion, with Bitcoin and gold holdings contributing approximately $1.85 billion to this figure. Overall, Tether's net profit for 2023 amounted to $6.2 billion.