While Bitcoin and Ethereum saw a fairly solid correction toward the end of the week, the most profitable company in the crypto industry — Tether — may have been quietly accumulating billions of dollars' worth of Bitcoin and gold.

Yesterday, Tether CEO Paolo Ardoino revealed that the company — the world's largest issuer of US dollar-pegged stablecoins — currently holds more than 100,000 Bitcoins (worth over $10 billion) and more than 50 tonnes of gold.

The announcement, made during a lively discussion on transparency and the company's reserves, immediately sparked widespread debate within and beyond the crypto community. The accumulation of such significant amounts of Bitcoin and gold raises important questions about Tether's strategy and its impact on the stability and future of stablecoins.

Indeed, these assets — traditionally considered "safe havens" — add a layer of confidence in the backing of USDT, Tether's flagship stablecoin. However, the scale of these holdings also raises concerns about concentration risks and potential market impact on both Bitcoin and gold.

It's worth noting that Tether's strategy of diversifying its reserves into cryptocurrencies and precious metals is clearly a move to reinforce trust in its stablecoin. It reflects the company's intention to build a more resilient and diversified reserve structure, which, in the long run, could help support greater stability across the crypto ecosystem.

Ardoino also revealed that Tether generated roughly $13 billion in profit in 2024, making it quite possibly the most financially successful enterprise in the entire crypto industry. Given that Tether has also been buying gold, Ardoino defended this decision by pointing to the need for reserve backing.

"Many Bitcoiners don't like talking about gold, as if gold could somehow take something away from Bitcoin. That's impossible. Bitcoin is perfect. Gold is not," he said. "Gold doesn't compete with Bitcoin; it competes with fiat — and that's why we need to accumulate gold as well."

In Tether's most recent report detailing its reserves as of the end of Q1 2025, the company stated that it held over $7 billion in Bitcoin and more than $6 billion in physical gold bars.

Trading recommendations

Bitcoin (BTC)

Buyers are now targeting a return to the $106,200 level, which would open the path toward $107,000, and from there, it's a short step to $107,700. The furthest bullish target sits at around $108,000 — a breakout above which would signal a strengthening bull market.

In case of a decline, buyers are expected at $105,200. A drop back below this zone could quickly drag BTC toward $104,300, with the lowest bearish target around $103,600.

Ethereum (ETH)

A solid hold above the $2,649 level opens the way to $2,683. The furthest upside target lies at around $2,718 — a breakout beyond which would mark the beginning of a bullish market structure.

If Ethereum declines, buyers are likely to emerge near $2,604. A drop below this level could push ETH toward $2,565, with the lowest bearish target around $2,522.

What's on the chart

• Red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• Green line shows the 50-day moving average.
• Blue line is the 100-day moving average.
• Lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.