Haciyev Reşit 
One of the world’s largest stablecoin issuers, Tether, is drawing attention not only for its strong position in the crypto market but also for its aggressive expansion strategy in the gold market. After recently entering the U.S. market with its new stablecoin USAT, the company made headlines globally with a move that goes beyond digital assets. The large-scale gold purchases made in recent months have positioned Tether not only ahead of many private-sector players, but also above the official gold reserves of several countries.
Tether’s Gold Reserves Exceed 148 Tons
According to information shared by the company and analyses reflected in the public domain, Tether has purchased more than 30 tons of gold over the past few months. Statements from CEO Paolo Ardoino indicate that as of the end of January, Tether holds approximately 148 tons of gold in its vaults. This level places the company ahead of many countries on a global scale, not just among private-sector entities.
An analysis published by Wall Street investment bank Jefferies highlighted notable details regarding Tether’s gold purchases. According to the report, the company acquired around 6 tons of gold in January and approximately 26 tons in the final quarter of 2025. As a result, Tether carried out a total of 32 tons of gold purchases in just four months, clearly demonstrating its strong appetite in this area.
Surpassing the Gold Reserves of Many Countries
Tether’s gold reserves have now surpassed the official gold holdings of countries such as Qatar, the United Arab Emirates, Greece, South Korea, and Australia. Similar to its rise in U.S. Treasury holdings, the company is rapidly climbing the ranks on the gold side as well, becoming the largest non-governmental holder of gold in the world.
A Strategic Move: Gold, Bitcoin, and Land
It is becoming increasingly clear that this growth is far from coincidental. CEO Paolo Ardoino has long emphasized that Tether is deliberately increasing its investments in “hard assets” such as Bitcoin, gold, and land. In addition to gold, the company’s balance sheet includes approximately $110 billion in U.S. Treasury bonds and more than 83,000 Bitcoin. This composition shows that Tether is diversifying its reserves not only with fiat-based assets, but also with tools designed to protect against inflation and market shocks.
Beyond reserve management, Tether remains active in ecosystem development as well. Last week, the company released an open-source software aimed at increasing decentralization in Bitcoin mining. This move strengthens Tether’s ambition to play a role in the crypto ecosystem that goes beyond being merely a stablecoin issuer.
Assessment
Tether’s accelerating gold purchases in recent months clearly demonstrate that the company is pursuing a long-term, multi-layered reserve strategy. The balance established between crypto assets, gold, U.S. Treasuries, and Bitcoin positions Tether as both a financially resilient entity and a systemic player on a global scale. If the company continues to follow this strategy, its influence is expected to grow not only in crypto markets but also across the traditional financial world.
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