TechFlow, November 26 — According to a Cointelegraph report citing a Jefferies analysis, stablecoin issuer Tether currently holds 116 metric tons of physical gold, making it "the largest holder of gold outside central banks," with reserves comparable to those of central banks in countries such as South Korea, Hungary, and Greece. In the last quarter, Tether's gold purchases accounted for nearly 2% of global gold demand and nearly 12% of central bank acquisitions, with its active buying possibly influencing short-term market supply and investor sentiment.
Investors cited by Jefferies believe Tether plans to acquire another 100 metric tons of gold by 2025. With an estimated $15 billion in profits expected this year, this target appears within reach. Additionally, Tether has invested over $300 million in precious metals producers and launched the gold-backed token Tether Gold (XAUt), which now has a market capitalization of $2.1 billion, doubling its issuance volume over the past six months.
