According to the latest research report from investment bank Jefferies, stablecoin issuer Tether has quietly emerged as a new force to be reckoned with in the global gold market. Estimated data from the report shows that Tether's total gold reserves have now reached 116 tons, a figure that places it among the world's top gold-holding institutions, with a scale even comparable to the gold reserves of some small central banks.
Structured Allocation of Gold Reserves
A deeper analysis of Tether's gold reserve structure reveals a diversified allocation strategy. Approximately 12 tons of gold are specifically allocated to back its gold-pegged token XAUt, valued at around $1.57 billion at current gold prices; while the remaining approximately 104 tons of gold are directly held as reserve assets for its flagship stablecoin USDT, valued at a substantial $13.67 billion. This layered allocation caters to the needs of different investors and reflects Tether's refined approach to asset reserve management.
Impressive Accumulation Speed
Particularly noteworthy is the speed at which Tether is accumulating gold. In the third quarter of this year alone, the company increased its gold holdings by approximately 26 tons, a quantity equivalent to 2% of global gold demand during the same period. Such a rapid accumulation pace not only reflects Tether's strong confidence in gold as a store of value but also highlights its purchasing power in the global precious metals market.
Underlying Drivers and Development Prospects
Behind this gold reserve strategy is Tether's continuously expanding business scale. With the steady growth of USDT's circulation and company CEO Paolo Ardoino forecasting a profit of $15 billion in 2025, market analysts widely believe that Tether is likely to continue increasing its gold allocation. Against the backdrop of rising global macroeconomic uncertainty, the appeal of gold as a traditional safe-haven asset is further enhanced.
Overall Gold Market Environment
Market performance since the beginning of this year also validates Tether's decision to increase gold holdings. The international gold price has accumulated a gain of over 50% and is currently trading at around $4,080 per ounce. This strong performance has not only delivered substantial returns to early gold investors but has also solidified gold's position within diversified investment portfolios.
Tether's large-scale allocation to gold represents the increasingly close integration trend between digital currency and the traditional precious metals market. As a bridge connecting the cryptocurrency world with the traditional financial system, Tether's allocation of part of its reserve assets to gold not only strengthens the credit backing of its stablecoin but also provides new ideas for asset reserve management for the entire industry. This development trend warrants continued attention from market participants and regulators.
