Tether, the largest stablecoin issuance unit in the world, is ramping up its investment in gold. After holding approximately 8.7 billion USD worth of physical gold in storage in Zurich, the company is now discussing expanding investments across the gold supply chain – including mining, refining, trading, and companies benefiting from gold mining revenues.
A notable step is the plan to spend approximately 100 million USD to increase the ownership stake in Elemental Altus Royalties, a Canadian gold mining royalty company. Tether's CEO, Paolo Ardoino, referred to gold as "natural Bitcoin," viewing it as a foundational reserve asset that could play an important role in the event of global financial turmoil.
Meanwhile, the Central Bank of El Salvador purchased nearly 14,000 ounces of gold for about 50 million USD—the first time in 35 years—bringing total gold reserves to over 58,000 ounces. This occurs alongside the amount of Bitcoin that the country is holding, indicating a general trend of using gold in combination with digital assets to diversify investments.
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Tether, El Salvador tightens its ties with Gold and Bitcoin
Tether, the largest stablecoin issuance unit in the world, is ramping up its investment in gold. After holding approximately 8.7 billion USD worth of physical gold in storage in Zurich, the company is now discussing expanding investments across the gold supply chain – including mining, refining, trading, and companies benefiting from gold mining revenues.
A notable step is the plan to spend approximately 100 million USD to increase the ownership stake in Elemental Altus Royalties, a Canadian gold mining royalty company. Tether's CEO, Paolo Ardoino, referred to gold as "natural Bitcoin," viewing it as a foundational reserve asset that could play an important role in the event of global financial turmoil.
Meanwhile, the Central Bank of El Salvador purchased nearly 14,000 ounces of gold for about 50 million USD—the first time in 35 years—bringing total gold reserves to over 58,000 ounces. This occurs alongside the amount of Bitcoin that the country is holding, indicating a general trend of using gold in combination with digital assets to diversify investments.
Decry