The largest stablecoin issuer is boosting its reserves by purchasing up to 2 tons of gold weekly. The company's stockpile now stands at 140 tons (~$24 billion), placing it among the largest non-governmental holders.
All of it is stored in a former nuclear bunker in Switzerland. The purchases back Tether's reserves and its gold-pegged stablecoin XAUT.
Amid this activity, gold has surged over 90% in the past year. Tether CEO Paolo Ardoino sees this as a hedge against potential future digital gold currencies from BRICS nations.
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