Tether Holds Over $5 Billion in Gold Reserves, Still Buying 1 to 2 Tons Weekly
BlockBeats News, January 29th, according to the Financial Times, as the price of gold hits record highs, the world's largest stablecoin company Tether's gold holdings have appreciated by over $5 billion.
Based on data disclosed by Tether, Jefferies Group estimates that as of the end of September, Tether held about 116 tons of gold, valued at around $14.4 billion at the time. At the end of September last year, the gold price was around $3,858 per ounce, but amid rising geopolitical uncertainty and investors flocking to safe-haven assets, it has now surged to over $5,200, meaning Tether has realized over $5 billion in appreciation on this part of its holdings.
This week, Tether stated that it further purchased 27 tons of gold bars in the fourth quarter of last year to back its gold-backed stablecoin, and just this year, this additional holding has appreciated by at least $700 million.
The current total value of Tether's gold holdings is around $24 billion, making it one of the biggest beneficiaries in this round of gold surge. According to the World Gold Council data, Tether has become one of the entities with the highest global gold holdings, with its gold reserves comparable to the Qatar central bank (the UK gold reserves are 310 tons). Jefferies analysts wrote in a report in November: "Tether is the largest non-central bank holder of gold, and its holdings are comparable to smaller central banks such as those of Korea, Hungary, and Greece."
BlockBeats Note: The figures given in the report are only very conservative estimates. Tether explicitly disclosed an additional purchase of 26 tons of gold in Q3 2025, holding 116 tons of gold at that time. Therefore, the company already held 90 tons of gold before Q3, with the timing and cost of this part of the holding not clearly disclosed. The "over $5 billion" in the Jefferies report is also calculated based on the Q3 holdings data. Tether also increased its gold holdings by 27 tons in Q4. Recently, CEO Paolo Ardoino stated that the company is currently buying 1 to 2 tons of gold per week and will maintain this pace in the "coming months."
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