Tether's Strategic Expansion in Gold Market Amid Geopolitical Shifts

Tether CEO Paolo Ardoino has indicated that the company's role in the gold market is set to expand as geopolitical rivals of the United States may introduce a gold-backed alternative to the dollar. According to Odaily, Ardoino highlighted Tether's ongoing strategy to reinvest substantial company profits into gold assets, maintaining a weekly purchase rate of 1 to 2 tons of gold, with plans to continue this approach in the coming months. Ardoino disclosed that Tether currently holds nearly 140 tons of gold, stored in a nuclear bunker in Switzerland built during the Cold War. This reserve is one of the largest known single gold holdings globally, outside of central banks, ETFs, and commercial banks. With recent increases in the prices of gold and other precious metals, the value of Tether's gold holdings has surpassed $23.3 billion. Furthermore, Ardoino mentioned that Tether is assessing market conditions and trading strategies, aiming to capture arbitrage opportunities through more active gold trading. The company has recently hired two experienced gold traders from HSBC to advance its physical gold market operations.