Main Points :
- Tether firmly denies selling Bitcoin, reaffirming its long-term strategy to invest in Bitcoin, gold, and land.
- Apparent reduction in BTC holdings is explained by internal transfers to Twenty One Capital (XXI), not a sale.
- Tether is expanding into gold investments beyond tokenization, including mining and royalties discussions.
- El Salvador makes its first gold purchase since 1990—an acquisition of 13,999 troy ounces (
$50 M), increasing reserves to 58,105 ounces ($207 M). - The move is part of El Salvador’s broader reserve diversification strategy amid halted Bitcoin accumulation and IMF scrutiny.
- El Salvador recently lifted its 2017 mining ban, enabling state-controlled, mercury-free mining—controversial from environmental perspectives.
1. Tether Denies Bitcoin Sell-Off Rumors – A Multi-Asset Strategy Intact
Tether’s CEO Paolo Ardoino publicly refuted speculations that the company sold its Bitcoin holdings to buy gold. In a post on X, Ardoino emphatically stated that Tether “didn’t sell any Bitcoin” and reaffirmed their approach of deploying profits into a balanced portfolio of “Bitcoin, gold, and land.” This was a direct response to YouTuber Clive Thompson’s interpretation of BDO attestations, which showed reported BTC holdings decline from 92,650 BTC in Q1 to 83,274 BTC in Q2 2025, fueling rumors of a sell-off.
However, Jan3 CEO Samson Mow clarified that this apparent reduction was not a sale but a strategic transfer of 19,800 BTC to Twenty One Capital (XXI)—14,000 BTC in June and 5,800 BTC in July—meaning Tether’s net Bitcoin position actually increased by around 4,624 BTC at Q2-end. Ardoino echoed this, declaring “Bitcoin was not sold, just moved,” underlining Bitcoin’s continued role in Tether’s asset strategy.
2. Beyond Tokens: Tether’s Growing Exposure to the Gold Industry
Tether is advancing beyond simply backing its gold-pegged token (XAUt) with holdings—it’s exploring a broader role across the gold supply chain. According to recent reports, the firm has held discussions with mining and investment groups regarding ventures in mining, refining, trading, and royalty streams. CEO Ardoino regards gold as a complementary foundation to Bitcoin, reinforcing Tether’s hybrid reserve approach.
3. El Salvador’s $50 M Gold Entry: First Since 1990, a Strategic Shift
Turning internationally, El Salvador’s Central Reserve Bank has purchased 13,999 troy ounces of gold, valued at approximately $50 million, marking its first acquisition since 1990. This raises national gold holdings to 58,105 ounces, now worth about $207 million.
This decision aligns with a global trend of central banks diversifying reserves amid uncertainty. As of July 2025, El Salvador’s net international reserves stood at approximately $4.7 billion—up from $3 billion a year earlier—with about $700 million still held in Bitcoin. The move is seen as a response to IMF guidance and caveats over Bitcoin’s volatility.
4. From Ban to Boom: Lifting the Mining Moratorium
Since 2017, El Salvador had banned metal mining, a move celebrated by environmental and Indigenous groups. However, in late 2024 the Salvadoran Congress, influenced by President Nayib Bukele, repealed that ban. The new law prohibits mercury use, restricts mining in protected natural areas, and reserves exclusive authority to the state, while allowing private-public partnerships.
Environmental activists are alarmed. Reports detail pollution from artisanal gold extraction in San Sebastián, where use of mercury and cyanide continues despite prior bans. Critics warn that reviving gold mining—even under “responsible” premises—could endanger ecosystems and human health.
5. Connecting the Threads: Crypto’s Hedging and Commodity Dynamics
Both Tether and El Salvador reflect a broader trend: digital-native actors seeking refuge and diversification in traditional hard assets. Tether balances Bitcoin with gold and land exposure, targeting stability amid macroeconomic uncertainty. Meanwhile, El Salvador—pioneering Bitcoin adoption—now pivots toward gold accumulation and policy flexibility to stabilize reserves.Graph / Chart Recommendation
6. Conclusion – Strategic Diversification in a Volatile World
Tether’s assertive denial of Bitcoin sell-off rumors underscores its commitment to multi-asset resilience. Through strategic BTC transfers and expanding gold industry outreach, it crafts a hybrid reserve model tailored for crypto-era turbulence.
El Salvador’s gold purchase symbolizes a pragmatic shift: complementing its Bitcoin holdings with traditional reserves under IMF scrutiny and domestic political calculus. The lifting of the mining ban, however, raises critical environmental concerns amid economic ambition.
For readers exploring new crypto asset opportunities, these developments underscore an evolving paradigm: blending digital innovation with commodity-backed stability might represent the next wave of real-world blockchain utilization and investment strategy.
