Mentioned:
ELE -0.04% MTA -8.77%
Tether can’t get enough exposure to gold. Which is exactly why they’re pouring hundreds of millions of dollars into buying more gold bullion.
What’s happening:
- Tether has publicly stated they have purchased an additional 6 tonnes of physical gold to hold directly as an asset
By the numbers:
- Tether now owns roughly 132 tonnes of physical gold
Why it matters:
- Tether has been aggressively accumulating exposure to both physical gold and the gold mining business with their profits, including notably acquiring equity stakes in publicly traded gold royalty and streaming companies
Going deeper:
- Elemental Royalty (NASDAQ: ELE) and Tether previously made major waves on Wall Street when they launched a new dividend policy to allow shareholders to receive a dividend in Tether Gold tokens as opposed to cash
- Tether’s gold backed stablecoin XAUT also holds roughly 22 tonnes of physical gold as collateral in addition to what Tether has purchased to hold directly as an asset
