Tether's Staggering Profits and Bitcoin Holdings
At the 2025 Bitcoin Conference in Las Vegas, Tether CEO Paolo Ardoino took the stage and immediately highlighted the company's financial strength: "Last year we made $13 billion in profit. We keep a $120 billion blast in US Treasuries as of now. We have committed to reinvest a lot into Bitcoin. We now have more than 100,000 Bitcoin that we own as a company."
Ardoino expressed his strong belief in Bitcoin, stating, "Bitcoin is perfect, gold is imperfect." He elaborated on Tether's origins: "We are a company that was born with Bitcoin. We are all Bitcoiners at heart. Everyone in our company loves Bitcoin."
Aggressive Push into Bitcoin Mining
During his speech, Ardoino made a stunning declaration: Tether will become the largest Bitcoin miner in the world. "We invested $2 billion in energy production and Bitcoin mining actually is a bit more than that. Something that we have been very shy to say, but I think that it's very realistic that by the end of the year, Tether will be the biggest Bitcoin miner in the world, even including all the public companies."
He also reaffirmed Tether's commitment to El Salvador: "We have our headquarters in El Salvador, the original Bitcoin country. We support El Salvador." This underscores the company's alignment with the first nation to adopt Bitcoin as legal tender.
Empowering Users with AI Platform QVAC and Rumble Wallet
Ardoino introduced Tether's new AI platform, called QVAC, emphasizing its purpose for individuals rather than corporations. "I want my AI agent to have a non-custodial wallet, so I can grant him some money. The money is kept by the AI agent and the AI agent will work for me. Will not work under the rules and conditions of someone else," he explained.
Finally, he revealed a partnership with Rumble: "We are collaborating to launch a Rumble Wallet that will be Bitcoin first and a little bit of stable coins wallet for the people." This wallet aims to bring Bitcoin payments and storage to a broader audience, furthering Tether's mission of financial inclusion.