Correct.
Tether didn't sell any Bitcoin. As Samson says below, it contributed part of its stash into XXI.
While the world continues to get darker, Tether will continue to invest part of its profits into safe assets like Bitcoin, Gold and Land.
Tether is the Stable Company.
I’m seeing news that Tether is selling Bitcoin for gold, and I think it’s false.
This guy Clive Thompson is making the rounds now based on analyzing BDO’s attestations for Tether. He came to the conclusion that because BTC holdings dropped, they sold it for gold.
Q2 2025 (as of June 30, 2025): 83,274 BTC
Q1 2025 (as of March 31, 2025): 92,650 BTC
He didn’t factor in that Tether funded XXI for a total of 19,800 BTC though.
June 2, 2025, 14,000 BTC was transferred to XXI
July 2025, an additional 5,800 BTC was transferred to XXI
So that means at the end of Q2 2025, Tether would have had 4,624 BTC more than at the end of Q1 2025. If you combined it with the July transfer then Tether has (at least) a net increase in Bitcoin holdings of 10,424 BTC.
Seems everyone is desperate for bearish Bitcoin news these days. Tether is mega bullish on Bitcoin on all metrics.

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