Crypto’s Golden Age: Tether’s Staggering $23 Billion Gold Hoard Shocks the Market

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Markets

What to know:

  • Tether, in a rather audacious display of wealth, procured an estimated 32 tonnes of gold in the twilight of 2025 and the dawn of 2026, according to analysts at Jefferies-because who doesn’t need a little more shiny metal in their life?
  • The pace of Tether’s golden acquisition surpassed all but Brazil and Poland, positioning it snugly among mid-sized sovereign nations, as if they were trying to impress the neighbors at the next cocktail soirée.
  • In a move that would make even Midas blush, Tether is using gold to underpin its USDT stablecoin and the gold-backed XAUT, with CEO Paolo Ardoino candidly revealing plans to shift up to 15% of their investment portfolio into this glimmering commodity.

Tether, the crypto colossus behind the world’s most adored stablecoin, has been hoarding gold like a dragon guarding its treasure, and reports from the venerable Wall Street bank Jefferies suggest they now rank among the top 30 global proprietors of this precious metal. Not bad for a company that started off as just another cryptocurrency!

By January 31, Tether’s glittering reserves had ballooned to an estimated 148 tonnes, valued at a jaw-dropping $23 billion, following a particularly enthusiastic buying spree of around 26 tonnes in the last quarter of 2025 and a cheeky addition of 6 tonnes in January alone. Talk about a golden touch!

According to Jefferies, Tether’s quarterly gold purchases eclipsed those of most individual central banks, trailing only behind the illustrious nations of Poland and Brazil, which might have them reconsidering their national policies over afternoon tea.

At these impressive levels, Tether’s holdings now outshine those of Australia, the United Arab Emirates, Qatar, South Korea, and Greece, delightfully placing this crypto firm in the elite circle of the top 30 bullion holders worldwide. One can only imagine the conversations at the next international summit!

The 148 tonnes of gold are supposedly held as reserves, perhaps to reassure investors that the value of the USDT and XAUT isn’t simply a figment of our collective imagination. However, whispers suggest that Tether may be sitting on even more gold than they care to admit, leaving one to ponder what else is hidden in that proverbial vault.

Given that Tether operates in the shadows of private ownership, we can only speculate that the figures provided are but a paltry minimum of their total gold exposure. Additional secretive acquisitions are likely lurking somewhere on the company’s balance sheet, like hidden treasures waiting to be discovered.

A glance at the USDT’s fourth-quarter attestation reveals a staggering $17 billion worth of gold lurking in the reserves, which equates to a hefty 126 tonnes at year-end prices. It seems Tether has quite the knack for amassing wealth!

XAUT, meanwhile, has ballooned to 712,000 tokens valued at $3.2 billion by the close of January, buoyed by an additional 6 tonnes of gold backing these tokens. CEO Ardoino, in a candid chat with CoinDesk, noted that this gold-backed marvel enjoys substantial retail demand, particularly from the eager hands of emerging markets.

This gleaming accumulation coincided rather spectacularly with a record-breaking rally in gold, which surged past $5,000 per ounce last month, displaying an impressive advance of nearly 50% since September. One can only speculate whether central banks and rising long-term government bond yields are leading this charge or if there’s something more mythical at play!

Jefferies noted that Tether’s relentless buying spree may well continue, with Ardoino hinting at plans to allocate a daring 10%-15% of its investment portfolio to physical gold. Clearly, this isn’t just a passing phase; it’s a strategy that has been brewing for several years, much like a fine wine coming to fruition.

As of last year’s end, Tether’s investment portfolio was reported to be worth a staggering $20 billion-a veritable cornucopia of riches! Who knew that a company built on digital currency could evolve into such a formidable gold baron?

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2026-02-09 11:11