Tether’s Gold Hoard Surges to 116 Tons, Rivals Small Central Banks

Tether has emerged as a significant player in the gold market, accumulating at least 116 tons of gold, making it one of the largest non-central bank holders globally. According to a report by investment bank Jefferies, Tether's recent gold purchases have contributed to a tighter supply and a rally in gold prices, which have surged over 50% this year, now trading around $4,080 per ounce. Tether's CEO, Paolo Ardoino, has signaled interest in increasing gold reserves, and the company has shown a consistent investment strategy in the gold sector, including significant amounts directed towards royalty and streaming companies. The accumulation rate has been notable, with approximately 26 tons bought in just the third quarter of this year, highlighting the potential impact on global demand. With projected profits of $15 billion for 2025, analysts suggest that Tether could continue to increase its gold reserves significantly in the future. This strategy aligns with Tether's goal to maintain about 7% of its reserves in gold, amidst growing interest in the commodity within its operational frameworks.

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