Summary
- It reported that Tether purchased 27 tonnes of gold during the fourth quarter of last year.
- According to Unfolded, it reported that Tether’s gold purchases amount to about $4.4 billion at current prices.
- It said this is interpreted as an example of Tether increasing the share of physical assets as part of a reserve-asset diversification strategy.
Tether, the issuer of the USDT stablecoin, is reported to have purchased 27 tonnes of gold during the fourth quarter of last year.
According to Unfolded, an on-chain data platform, on the 26th (local time), Tether’s gold purchases amount to about $4.4 billion at current prices. This is interpreted as an example showing that Tether is increasing the share of physical assets as part of its strategy to diversify reserve assets.
Tether has incorporated physical assets including gold into its reserves alongside U.S. Treasuries and cash-equivalent assets, and is also responding to calls for greater transparency regarding the composition of its reserves.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
