Despite its numerous regulatory setbacks, Tether remains the undisputed leader in the stablecoin sector. This position is accompanied by a very aggressive reserve strategy, to the point that it is now one of the world’s largest holders of gold.
Tether Accumulates More Than a Metric Ton of Gold Per Week
The stablecoin market has undergone a historic transformation since the approval of the GENIUS Act regulatory framework in the United States. However, this represents yet another setback for Tether’s USDT, just as it has in the European Union since the implementation of the MiCA regulation.
This situation clearly hasn’t discouraged its CEO, Paolo Ardoino, who is determined to establish a foothold in emerging markets that are highly receptive to these cross-border monetary solutions—which serve as alternatives to their often-flawed national systems. As a result, USDT recently surpassed the 500-million-user mark worldwide.
At the same time, Tether is diversifying its investments into sectors such as Bitcoin mining, artificial intelligence, and the agri-food industry. This strategy has made it one of the world’s largest holders of BTC for some time now, with a portfolio estimated at 87,485 BTC (currently worth just over $8 billion).
This strategic accumulation also extends to physical gold. In fact, analysts at the Kobeissi Letter have just published a report on the subject estimating that Tether has been accumulating more than one metric ton of this precious metal each week since the beginning of the year.
Tether Becomes One of the World’s Largest Gold Holders
Precious metals account for 7% of its reserves
The speed and scale of this accumulation appear phenomenal. In fact, this corresponds to a purchasing strategy that can likely be estimated at over $120 million each week—or at least $4 billion since the start of the year.
Tether’s gold reserves reached a record $12.9 billion in September. This corresponds to 104 metric tons of physical gold. The value of its gold reserves has doubled since the start of the year, while its physical reserves have also doubled since the second quarter of 2024.
Kobeissi Letter
At the time of writing, Tether’s reserves total $181.2 billion, with a significant portion invested in the U.S. Treasury bond market (over 60%). As for gold, it accounts for the 7.13% share announced as being allocated to precious metals, ahead of Bitcoin at 5.44%.
According to analysts at the Kobeissi Letter, with this active accumulation strategy, “Tether is becoming one of the world’s largest holders of gold.” This approach is in line with its stated goal since 2023 to reduce its dependence on the dollar in order to protect itself from geopolitical and macroeconomic risks.
