Tether holds 116 tons of gold, equivalent to the reserves of the central banks of South Korea and Hungary.

According to an analysis report by Jefferies, stablecoin issuer Tether currently holds 116 tons of physical gold, making it the "largest gold holder outside of central banks," with reserves comparable to those of the central banks of countries like South Korea, Hungary, and Greece. Last quarter, Tether's gold purchases accounted for nearly 2% of global gold demand and nearly 12% of central bank purchases, and its aggressive acquisitions may have already impacted short-term market supply and investor sentiment.

According to investors cited by Jefferies, Tether plans to acquire another 100 tons of gold by 2025. With projected profits of $15 billion this year, this goal seems achievable. Furthermore, Tether has invested over $300 million in precious metals producers and issued the gold-backed token Tether Gold (XAUt), which has a market capitalization of $2.1 billion and whose issuance has doubled in the past six months. (Cointelegraph)