Bitcoin: Tether, Coinbase and Block continue to buy, but miners sell for AI

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https://cryptoast.fr/bitcoin-tether-coinbase-block-achetent-mineurs-vendent-ia/

At the Plan ₿ Forum in Lugano, Switzerland, Paolo Ardoino, CEO of Tether, declared on stage “We have, roughly, 150,000 bitcoins ourselves.” The company issuing the stablecoin USDT would hold more than $12 billion worth of it at the current price of BTC, which hovers around $80,300.

A figure which exceeds by almost 50,000 BTC what the company's balance sheet for the 3rd quarter of 2026 showed according to Decrypt, knowing that this quarterly report is supposed to give its asset reserves as of September 30, 2026. Would Tether have purchased bitcoins massively during the month of October?

This accumulation of the precious cryptocurrency is in any case part of a strategy established in May 2023, when Tether announced that it would allocate up to 15% of its net operational profits to the purchase of bitcoins, kept in self-custody rather than entrusted to a third-party custodian. And precisely, according to its latest quarterly report, Tether generated $1.5 billion in net operating profit between July and September 2026.

The cryptocurrency exchange platform Coinbase had increased its treasury to 17,954 BTC at the end of September, according to its report for the 3rd quarter of 2026, or 643 bitcoins more in 3 months. The founder and CEO of the exchange, Brian Armstrong, even recently indicated that his group has now crossed the 18,000 BTC mark. The value of these Bitcoin reserves would now be more than $1.4 billion.

Beyond just hoarding, Brian Armstrong also revealed some interesting behavior from long-time HODLers among his clients. Indeed, these people who hold cryptocurrency for the long term are increasingly using it as loan collateral: “many of our clients who were there early on Bitcoin never want to sell their BTC, but they want to use them as collateral,” he explained.

We (Coinbase) recently added our 18,000th Bitcoin to our treasury investment holdings. https://t.co/VhVQeS6yGe

For its part, Block (formerly Square), Jack Dorsey's company, added 120 BTC to its reserves during the 3rd quarter of 2026. Its stock thus reached 9,237 bitcoins as of September 30. That’s almost $742 million currently.

Machine-translated from French