Key Notes
Tether’s pivot to gold comes amid strong market performance, with gold gaining 37% year-to-date in 2025 compared to Bitcoin’s 22%.
Company CTO Paolo Ardoino’s view of gold as a “natural Bitcoin” and a complementary asset.
Tether already holds $8.7 billion in gold bars and has acquired a $105 million minority stake in Toronto-listed Elemental Altus.
USDT stablecoin issuer Tether is currently exploring fresh investments in gold mining companies, with plans to divert its massive crypto profits into the yellow metal. Sources familiar with the matter stated that the company had discussions about investing in the entire supply chain of gold.
This pivot comes as gold has far outperformed Bitcoin , with 37% year-to-date gains since the beginning of 2025. On the other hand, BTC has gained only 22% during the same period.
Tether CTO Paolo Ardoino Calls Gold ‘Natural Bitcoin’
Tether ranks among the most profitable crypto companies, operating the largest stablecoin USDT, with a market cap of $168 billion. The company generated $5.7 billion in profits during the first half of this year. Besides, the stablecoin firm is also a major holder of US Treasuries, as a backing to its native stablecoin.
Tether CTO Paolo Ardoino is a strong advocate for gold, previously stating that the metal is a safer asset than any sovereign currency. He also believes that the yellow metal serves as a complementary investment to Bitcoin. Previously, Ardoino also referred to gold as a “natural Bitcoin.”
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This is not the first time that the stablecoin firm is exploring gold investment. According to the company’s financial statement, Tether already holds a massive $8.7 billion worth of Gold bars in the Zurich vault.
However, Tether’s interest in gold has raised eyebrows in the traditionally conservative gold mining sector. Industry insiders expressed skepticism about the company’s approach. “They like gold. I don’t think they have a strategy,” said one mining executive.
Major Value Unlocking in Gold Miners?
The USDT stablecoin issuer is exploring investments in gold mining firms, as it might have foreseen a major value unlocking in this sector. This is the first major investment decision after former Trump’s crypto official Bo Hines joined the stablecoin firm as a strategic advisor.
Recently, popular economist Peter Schiff stated that mining firms are lagging behind in catching up to the gold rally.
Despite the sharp move up in gold and silver prices, so far there are no signs of excessive speculation. Despite solid gains today in the $GDX and $GDXJ, many individual names are trading lower as investors take profits. Don't sell your miners. It's far too early to take profits.
— Peter Schiff (@PeterSchiff) September 3, 2025
Earlier in June, Tether acquired a minority stake in Toronto-listed gold royalty firm Elemental Altus for $105 million, as reported by Financial Times. Sources familiar with Tether’s strategy said the firm has held discussions with multiple gold royalty companies, including further investments in Elemental Altus.
Tether also engaged in talks with Terranova Resources, a gold mining investment vehicle based in the British Virgin Islands. However, they failed to reach a deal.
Additionally, the company operates XAUt, a crypto token backed by physical gold, which has a market capitalization of $880 million but has seen limited adoption compared to Tether’s flagship stablecoin, USDT.
