Tether, the issuer of USDT and the dominant force in the global stablecoin market, is no longer operating in the shadows of Bitcoin’s ecosystem.
On April 29, the company made two significant moves that underscore its growing ambition to become a central pillar of Bitcoin infrastructure.
In a high-profile keynote at the Bitcoin 2026 conference in Las Vegas, CEO Paolo Ardoino publicly confirmed that Tether now holds more than 140,000 Bitcoin and continues to accumulate aggressively.
Just hours later, Tether Investments unveiled a bold proposal for a three-way merger involving its publicly traded Bitcoin treasury vehicle, Twenty One Capital (NYSE: XXI), signaling a strategic shift from passive holder to active builder across mining, payments, and treasury operations.
Beyond the treasury update, Tether Investments proposed merging Twenty One Capital with Strike, Jack Mallers’ Bitcoin payments and financial services platform, and Elektron Energy, a miner controlling approximately 50 EH/s—roughly 5% of the global Bitcoin network hashrate.
Source: X.com
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