Tether’s Ardoino Affirms Bitcoin and Gold as Long-Term Assets
- Tether CEO Paolo Ardoino stated that “Bitcoin and Gold will outlast any other currency.”
- Tether plans to allocate up to 15% of net operating profits to purchase bitcoin for reserves.
- As of June, Tether’s tether gold (XAUt) was backed by over 7.66 tons of gold.
- The U.S. dollar index (DXY) is down by 8.88% year-to-date, while bitcoin and gold have risen by approximately 22.79% and 52.91%, respectively.
- Tether has discussed investing across the gold value chain, including mining and refining.
Ardoino’s comments reflect Tether’s strategy of positioning bitcoin and gold as key assets in its reserve management approach, emphasizing long-term value retention amidst market fluctuations.
With bitcoin up by over 22% this year and Tether backing its tokens with significant gold reserves, the firm continues to strengthen its asset portfolio amid a declining U.S. dollar index.(Source)
