In a recent statement on X, Tether CEO Paolo Ardoino emphasized the durability of Bitcoin and gold, asserting, “Bitcoin and Gold will outlast any other currency.” This succinct remark reflects Tether’s ongoing strategy regarding its asset reserves over the past two years.
Back in May 2023, Tether announced a commitment to allocate up to 15% of its net realized operating profits to purchase Bitcoin, which would then be added to its reserves. Notably, this acquisition is not intended to back the circulating USDT on a one-for-one basis but is viewed as a means to reinforce Tether’s balance sheet with a timeless store of value.
In this context, gold occupies a similar position alongside Bitcoin in Tether’s strategy. The company issues a gold-backed token known as Tether Gold (XAUt), which is tied to allocated physical gold bars. On July 24, Tether disclosed that over 7.66 tons of gold backs its outstanding tokens as of June 30, 2025. Furthermore, Tether is reportedly exploring investment opportunities throughout the gold value chain, which includes aspects like mining, refining, and royalties, as a part of its broader diversification strategy.
Ardoino has previously linked these assets in his discussions, referring to Bitcoin, gold, and real estate as various hedges. He recently refuted claims suggesting that Tether sold Bitcoin to acquire gold, reaffirming the company’s commitment to expanding its Bitcoin holdings. His latest post serves less as a new policy direction and more as a reaffirmation: using profits to grow Bitcoin holdings while maintaining gold as a strategic cornerstone through tokenization and potential investments in upstream operations.
Current market data indicates a notable performance differential between the U.S. dollar index and these two assets. As of late Sunday, the U.S. dollar index was down 8.88% for the year, contrasting sharply with the performance of Bitcoin and gold, which saw increases of 22.79% and 52.91%, respectively. Investors will be eagerly awaiting the next reserve report from Tether, anticipated to be released later this month or early next month, which is expected to shed light on any changes in allocations to Bitcoin and gold.
