Tether, the issuer of the USDT stablecoin, has intensified its precious metals accumulation strategy by confirming the purchase of between one and two tons of gold every week. According to CEO Paolo Ardoino, the firm aims to increase its allocation in this asset to 15% of its total portfolio, solidifying its position as one of the largest private holders in the world.
This massive move occurs in a context where the crypto illicit transaction volume has been overshadowed by the search for safe-haven assets amid global economic uncertainty. With USDT circulation hovering around 186 billion dollars, Tether is injecting billions into the gold market, competing directly with the demand seen from global central banks.
Currently, the company custodies approximately 140 metric tons of physical gold in Swiss vaults, a figure that already surpasses the national reserves of countries like Australia or Qatar. By integrating these assets, the firm not only diversifies its backing but also establishes a structural demand floor that has contributed to gold breaking the historic barrier of 5,500 dollars per ounce.
Tether’s consolidation as a gold market whale and its impact on physical liquidity
Unlike investors operating with paper contracts, Tether acquires physical bullion, which creates a real constraint on the supply available in OTC markets. This constant accumulation, equivalent to 2% of annual mining production, is forcing a liquidity adjustment that directly benefits metal holders. Through this mechanism, the blockchain intertwines with the real economy, transforming digital sector profits into tangible and unseizable reserves.
Furthermore, Ardoino’s strategy responds to a “sovereign wealth” vision, where gold acts as a pillar of stability against the potential devaluation of the US dollar. In this way, Tether not only ensures its operational solvency but also projects an image of institutional strength that attracts large capital fleeing from volatility. Likewise, the use of its XAUt token has grown exponentially, allowing retail investors to access fractional gold ownership with the same ease they trade any cryptocurrency.
Could Tether’s massive accumulation destabilize the global supply of physical gold?
Although the weekly purchase volume is significant, analysts suggest that Tether acts more as a price stabilizer than a factor of chaos. However, if the company decides to maintain this acquisition pace throughout 2026, the pressure on Swiss refiners could push delivery premiums to record levels. Therefore, the market closely monitors every transparency report, as any change in the allocation quota could send shockwaves through both the cryptographic and traditional financial sectors.
Finally, the convergence between gold and stablecoins appears to be an irreversible trend in modern financial architecture, where blockchain transparency guarantees the physical existence of the backing. However, the reliance on traditional assets also links the firm’s fate to Federal Reserve policies and the strength of the greenback. Consequently, Tether’s success will depend on its ability to navigate between the rigidity of the gold market and the agility of digital finance.
