Tether’s $BTC Whale Move Leaves Strategy Still Holding the Crown 👑

Tether holds 150,000 $BTC, valued at $11.5 billion at the current price, making the USDT issuer one of the world’s largest corporate Bitcoin holders. CEO Paolo Ardoino revealed the holdings during a keynote at the Plan ₿ Forum in Lugano, Switzerland, on November 3, 2026.

The position places privately held Tether behind only Strategy among major corporate Bitcoin treasury holders, although Tether sits outside the public BitcoinTreasuries ranking. Strategy leads the list with 849,327 $BTC—5.7 times Tether’s reported holdings. Tether’s stack represents 18% of Strategy’s holdings.

Tether began building its Bitcoin treasury after announcing the strategy in May 2023. The company committed to allocating up to 15% of its net realized operating profits toward Bitcoin purchases, using profits generated by its dollar-pegged stablecoin business to increase its $BTC exposure.

The disclosure positions Tether ahead of most companies pursuing corporate Bitcoin treasury strategies while confirming that Strategy remains the clear leader in Bitcoin holdings.