Tether, the issuer of the world’s largest stablecoin, USDT, is reportedly exploring the opportunity to invest in gold mining. According to a recent Financial Times report, the firm has engaged in discussions with various mining groups to invest in different sectors of the gold supply chain, including refining, trading, and royalties.
Paolo Ardoino, the CEO of Tether, highlighted the company’s interest in gold by referring to the precious metal as “bitcoin in nature” during his address at the Bitcoin 2025 conference in May. This connection underscores Tether’s strategic positioning in both digital and physical assets, appealing to a growing number of investors seeking stability during turbulent times.
An executive from the commodity industry described Tether as the “weirdest company I have ever dealt with,” reflecting the unique dynamics surrounding the firm’s investment strategies and operations. Tether’s current holdings include $8.7 billion in gold bars stored in a vault in Zurich. In a recent investment move, Tether acquired a minority stake in Elemental Altus (ELE), a publicly traded precious metals investment company, for $89.2 million.
Additionally, Tether has introduced Tether Gold (XAUT), a stablecoin whose value is pegged to a troy ounce of physical gold. The interest in gold comes as prices for the commodity surged to an all-time high of over $3,550 per ounce, nearly doubling in value over the past two years. This rise in gold’s value is of particular interest to crypto-native investors, who often view gold as a safe haven asset, akin to their investments in cryptocurrencies like Bitcoin.
As geopolitical tensions continue to influence market dynamics, Tether’s foray into gold mining represents a significant pivot towards diversifying its investment portfolio, blending the realms of digital and traditional asset classes. The firm has not provided immediate comments regarding this report, leaving analysts and investors keenly watching for any further developments.
