News - How much Bitcoin does Tether own?

By Ted Maas

How much Bitcoin does Tether own?

Bitcoin (BTC)
Tether (ERC-20) (USDT)

The information provided by Tether about how much Bitcoin they actually own is not accurate, according to Bitcoin blockchain analysts.

Tether and its cryptodeposits: the discussions just won't stop. In comparing corporate data and Bitcoin wallets, on-chain analysts have discovered some inaccuracies.

In its latest quarterly report, Tether claimed to own about $1.6 billion in Bitcoin. In the ranking of largest Bitcoin investors, they are said to rank 11th worldwide in this regard. On-Chain analyst Tom Wan then shared details of a bitcoin address that would match Tether's claims.

However, according to Cryptoquant, this wallet does not match the description in the quarterly report. Therefore, according to the analysis company, Tether's claims could be false. However, Cryptoquant also does not rule out the possibility that the listing of wallets is misleading. "We must be careful with this approach and the interpretation of the results".

Cryptoquant continues "so for example, is there a possibility that the labels of wallets on exchanges may be overlooked and classified as wales, even though they may actually be internal wallets of Tether".

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