In response to "foreign media claims that Tether has used some of the reserve investment in bitcoin", Bitfinex chief technology officer Paolo Ardoino responded by saying, "On May 16, 2019, Tether had 0.076 BTC at address 1NTMakcgVwQpMdGxRQnFKyb3G1FAJysSfz. This is because every time Tether When (OMNI) is issued, Tether must use BTC to pay for mining."