Tether CEO Paolo Ardoino said the company holds approximately 150,000 Bitcoin worth about $11.5 billion, or roughly ¥1.8 trillion. The reported position would exceed the holdings of every listed company tracked by Bitcoin Treasuries except Strategy, whose Bitcoin position is about 5.7 times larger, and would be approximately 3.4 times Metaplanet’s holdings. Tether is privately held and excluded from the listed-company ranking. The figure is about 50,000 BTC above the approximately 100,060 BTC implied by Tether’s third-quarter USDT reserve attestation, a difference of nearly $3.8 billion. Ardoino did not disclose where the additional Bitcoin is held or when it was acquired, and Tether has said its corporate Bitcoin investments are separate from reserves backing USDT. The company said in May 2023 that it would direct up to 15% of net realized operating profits toward Bitcoin and custody the coins itself. Tether reported $1.5 billion in third-quarter net operating profit, listed $191.45 billion in assets against $183.50 billion in liabilities in its third-quarter reserve report, and has begun its first full financial audit with KPMG.