Tether plans to purchase 1–2 tons of gold weekly in the coming months and aims to capture arbitrage opportunities through active trading

Odaily News: In an interview with Bloomberg, Tether CEO Paolo Ardoino stated that as geopolitical rivals of the United States may introduce dollar alternatives backed by gold, Tether's role in the gold market is expected to further expand.

Ardoino noted that Tether plans to continuously reinvest the substantial profits generated by the company into gold assets. It currently maintains a pace of purchasing 1 to 2 tons of gold per week and expects to continue this strategy in the coming months.

He revealed that Tether currently holds a cumulative total of nearly 140 tons of gold, stored in a nuclear bunker built during the Cold War in Switzerland. This is one of the largest known single gold reserves globally, excluding central banks, ETFs, and commercial banks. With the recent rise in gold and other precious metal prices, the value of Tether's gold holdings has exceeded $23.3 billion.

Furthermore, Ardoino mentioned that Tether is evaluating the relevant market environment and trading strategies, planning to capture arbitrage opportunities through a more active approach to gold trading. The company recently hired two senior gold traders who previously worked at HSBC to advance its positioning in the physical gold market. (The Block)