Key Takeaways
- • Tether CEO Paolo Ardoino disclosed at the Plan ₿ Forum in Lugano on November 3, 2026, that the company holds roughly 150,000 BTC, worth around $11.5 billion.
- • Tether's Bitcoin holdings were reported at between 96,000 and 100,000 BTC in early 2026, indicating accelerated accumulation.
- • Tether's strategy allocates up to 15% of quarterly net profits to Bitcoin purchases, a policy introduced in May 2023.
- • Per Tether's Q3 2026 report, Bitcoin reserves were about $8.37 billion as of September 30, while US Treasury holdings, including repurchase agreements, stood at about $132.4 billion.
- • Excess reserves rose to $7.95 billion in Q3 2026 from $4.1 billion in June, with total reserve assets of $191.45 billion against $183.50 billion in liabilities.
Summary
Stablecoin issuer Tether has substantially expanded its Bitcoin holdings, with CEO Paolo Ardoino stating at the Plan ₿ Forum in Lugano on November 3, 2026, that the company holds "give or take 150,000 bitcoin," worth around $11.5 billion. Ardoino characterized the position as "not much, but it's honest work." The disclosure places Tether among the largest public holders of Bitcoin, according to the report.
The figure represents a considerable increase from early 2026, when Tether reportedly held between 96,000 and 100,000 BTC. The company's accumulation pace has accelerated over that period. Tether has made large individual purchases, including approximately 8,888 BTC for about $780 million on December 31, 2025.
The buying program traces to May 2023, when Tether began allocating up to 15% of its quarterly net profits to Bitcoin. Tether's Q3 2026 report put Bitcoin reserves at about $8.37 billion as of September 30, up from an estimated $5.8 billion at the end of the second quarter.
Bitcoin remains a minority of Tether's reserves. The Q3 report shows about $132.4 billion in US Treasury securities, including repurchase agreements, which form the primary backing for the USDT stablecoin. Treasuries are considered more stable than Bitcoin as reserve collateral.
Tether also reported $7.95 billion in excess reserves at the end of Q3, up from $4.1 billion in June. Total reserve assets were $191.45 billion against $183.50 billion in liabilities at the end of September, leaving the firm with a surplus of assets over obligations.
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The figure represents a considerable increase from early 2026, when Tether reportedly held between 96,000 and 100,000 BTC. The company's accumulation pace has accelerated over that period. Tether has made large individual purchases, including approximately 8,888 BTC for about $780 million on December 31, 2025.
The buying program traces to May 2023, when Tether began allocating up to 15% of its quarterly net profits to Bitcoin. Tether's Q3 2026 report put Bitcoin reserves at about $8.37 billion as of September 30, up from an estimated $5.8 billion at the end of the second quarter.
Bitcoin remains a minority of Tether's reserves. The Q3 report shows about $132.4 billion in US Treasury securities, including repurchase agreements, which form the primary backing for the USDT stablecoin. Treasuries are considered more stable than Bitcoin as reserve collateral.
Tether also reported $7.95 billion in excess reserves at the end of Q3, up from $4.1 billion in June. Total reserve assets were $191.45 billion against $183.50 billion in liabilities at the end of September, leaving the firm with a surplus of assets over obligations.
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