Tether’s Golden Power Play: 116 Tons and More

Tether, the company that makes the popular USDT stablecoin, has a huge pile of gold. They now have 116 tons of reserves, which is worth between $8.7 billion and $12 billion. Even compared to the central banks of some countries, they are a big player in the gold world.

The Big Jump in Gold

Tether added 26 tons of gold to their stash in just the third quarter. That’s a lot! As their USDT grows, they plan to keep buying more. Gold is about 7% of what backs USDT right now. Jefferies says that this steady buying has made Tether one of the gold market’s most important new buyers.

Gold helps keep the value of the U.S. dollar stable. Gold adds extra safety because USDT is linked to the dollar. Paolo Ardoino, the CEO of Tether, thinks the company will make a lot of money in the future, maybe $15 billion by 2025. This could mean even more purchases of gold.

Tether has more gold than some small central banks, with 116 tons. Countries in Eastern Europe or parts of Asia that are similar in size are good examples. This shift highlights how private companies in crypto are gaining power once held only by states.