ChainCatcher reports that, according to Reuters, Tether CEO Paolo Ardoino stated that Tether plans to allocate 10% to 15% of its portfolio to physical gold.
Earlier reports indicate that stablecoin issuer Tether Holdings SA has become one of the largest participants in the global gold market, holding approximately 140 tons of gold valued at about $23 billion. It is believed to be the largest known holder of physical gold outside of banks and governments. Tether CEO Paolo Ardoino revealed that the company is continuously purchasing gold at a rate of 1 to 2 tons per week, with the goal of establishing a long-term, stable physical gold reserve in a former Swiss nuclear bunker.
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