Tether CEO Paolo Ardoino denies rumors of selling Bitcoin holdings to buy gold, stating they have not sold any Bitcoin and continue to invest in assets like Bitcoin, gold, and land. Jan3 CEO Samson Mow debunked claims of a sell-off, noting Tether transferred 19,800 BTC to Twenty One Capital (XXI).

Tether moved over 37,000 BTC, worth $3.9 billion, to support XXI, increasing their net holdings. CEO Ardoino clarified that the Bitcoin was moved, not sold, to invest profits in safe assets. Tether holds over 100,521 BTC, valued at around $11.17 billion.

El Salvador acquires 13,999 troy ounces of gold worth $50 million for its foreign reserves, diversifying away from the US dollar. The country previously built a $700 million Bitcoin reserve, holding 6,292 BTC. An IMF report stated that El Salvador has not made any new Bitcoin purchases since February.

Read more at Cointelegraph: Tether Denies Bitcoin Sell-Off Rumors, Reaffirms BTC, Gold, and Land Strate