Tether Becomes Largest Independent Gold Holder Globally

Tether Ltd. has become the largest independent holder of gold globally, amassing 116 tons by Q3 2025, comparable to mid-sized central banks.

This gold acquisition bolsters Tether’s reserves, impacting USDT’s market stability and potentially influencing gold prices and cryptocurrency valuation.

Tether, issuer of USDT, has become the largest independent gold holder, impacting global markets.

Tether’s Strategy and Market Impact

Tether’s Accumulation Strategy

Tether, the issuer of the stablecoin USDT, has become the largest independent holder of physical gold, amassing 116 tons by the end of Q3 2025. This stockpile is comparable to central banks like South Korea. The accumulation occurred over 2025, with Tether purchasing 26 tons in Q3 alone. The gold, backing both USDT and Tether Gold token, constitutes 7% of Tether’s reserves.

Paolo Ardoino, CTO of Tether, stated, “Our strategy to accumulate gold not only strengthens our reserves but also positions us as a leader in integrating physical assets with our digital offerings” – source.

Market Movements and Analysis

Tether’s significant purchasing has affected the gold market, contributing to a tightening supply.

This has coincided with a surge in gold prices, which rose over 50% in 2025, reaching above $4,000 per ounce. The investment, valued at approximately $12.9 billion by Q3 2025, underscores Tether’s strategy. Analysts from Jefferies highlight Tether as a driving force behind the gold price rally.

Implications for the Cryptocurrency Ecosystem

Questions arise about crypto market impacts, especially concerning USDT’s valuation and demand.

While direct regulatory comments are absent, scrutiny on Tether’s reserve diversification might grow. Historical data shows no crypto entity reaching similar gold reserves. Tether’s backing alterations could change its market perception and regulatory landscape, with ripple effects possibly extending to BTC, ETH, and DeFi communities.