Tether has amassed 148 tons of gold reserves, making it one of the largest holders globally, with plans for continued acquisitions.
Tether, the issuer of the USDT stablecoin, has become one of the world's top thirty gold holders, as revealed in a report by investment bank Jefferies.
As of January 31, Tether's gold reserves reached 148 tons, valued at approximately $23 billion. In a significant acquisition spree, the company secured 26 tons of gold in the fourth quarter of 2025, followed by an additional 6 tons in January.
Analysts observed that Tether's purchasing speed surpassed that of most central banks, with only Poland and Brazil acquiring gold at a faster rate. Notably, Tether's gold holdings now exceed the official reserves of several countries, including Australia, the UAE, Qatar, South Korea, and Greece.
Gold is utilized to back both USDT and Tether's XAUT, which has a current market capitalization of $2.5 billion, according to CoinGecko.
This accumulation aligns with a significant surge in the precious metals market, where gold prices recently exceeded $5,000 per ounce, driven by increased demand from central banks and a shift by investors to reduce dependency on the US dollar.
Jefferies indicated that Tether plans to continue its gold purchases. CEO Paolo Ardoino previously mentioned that the company aims to allocate 10-15% of its investment portfolio to physical gold.
In January, Ardoino also disclosed that Tether is converting a former nuclear bunker in Switzerland into a secure storage facility for its gold reserves, emphasizing the location's enhanced security reminiscent of a James Bond film set.
