Tether Explores Investment Opportunities in Gold Mining
Tether, issuer of the largest stablecoin USDT, is exploring investments in gold mining. Discussions are ongoing with mining groups about funding various aspects of the gold supply chain, including refining and trading.
Key points include:
- Tether holds $8.7 billion in gold bars stored in Zurich.
- The firm acquired a minority stake in Elemental Altus for $89.2 million.
- Tether offers Tether Gold (XAUT), pegged to one troy ounce of physical gold.
- Gold reached over $3,550 per ounce this week, nearly doubling in price over two years.
Tether's CEO has referred to gold as "bitcoin in nature," highlighting its appeal to crypto investors seeking safe-haven assets amid geopolitical tensions.