Tether’s Gold Holdings Hit $23B, Overtaking Several Nations

Tether has built a gold reserve worth roughly $23 billion, placing it among the top 30 holders of the metal globally, according to a report by investment bank Jefferies. The company’s gold stash reached an estimated 148 tonnes by the end of January.

Jefferies said Tether added about 26 tonnes of gold in the final quarter of 2025 and another six tonnes in January, buying more than most individual central banks during that period. Its holdings now exceed those of countries such as Australia, Qatar, and South Korea.

The gold backs both Tether’s USDT stablecoin and its gold-backed token XAUT. Because Tether is privately held, analysts believe the actual amount of gold owned could be even higher than disclosed. Strong demand for XAUT has come mainly from emerging markets.

The accumulation coincided with a major rally in gold prices, driven by central bank buying, rising bond yields, and efforts to reduce reliance on the US dollar. Tether plans to allocate up to 15% of its portfolio to physical gold.

You need to login in order to Like