Tether’s Aggressive Gold Acquisition Strategy
- Tether is purchasing physical gold at a rate of up to two tons per week, totaling over $1 billion monthly.
- The company’s gold holdings now amount to approximately 140 tons, valued at around $24 billion.
- Tether’s gold-backed stablecoin, XAU₮, has a market capitalization of $2.7 billion.
- The firm’s gold buying has surpassed that of countries like Greece and Qatar in recent months.
- Gold prices have risen over 90% in the last year, currently trading at $5,260 per ounce.
Tether’s significant investments in gold aim to bolster confidence amid uncertainties in monetary systems and provide a tangible asset backing its stablecoin offerings. The company’s strategy places it alongside major sovereign gold holders, highlighting its growing influence in the bullion market.
With Tether acquiring up to two tons of gold weekly, its total holdings now stand at around $24 billion, positioning it as a key player in the global gold market.(Source)
