Tether’s Gold Hoard Surges to 116 Tons, Rivals Small Central Banks

Investment bank Jefferies suggests that Tether's substantial gold accumulation is a key, non-traditional driver behind the recent 50% surge in precious metal prices. Analysts estimate Tether held at least 116 tons of gold by the end of Q3, split between its XAUt token and USDT reserves, positioning it as the world's largest non-sovereign holder, comparable to smaller central banks. The pace of accumulation, roughly 26 tons in Q3 alone, tightened near-term supply. Tether is expected to continue buying, potentially adding 60 tons annually if half of its projected 2025 profit is deployed into bullion, further solidifying its broader metals strategy evidenced by investments in royalty firms and recent high-profile hiring.

(Source：CoinDesk)