Tether’s 116-ton gold hoard rivals reserves of Korea and Hungary: Jefferies
NeutralCryptocurrency
- Tether has amassed a gold reserve of 116 tons, positioning itself alongside the reserves of small nations such as Korea and Hungary, according to a report by Jefferies. This significant accumulation accounts for nearly 2% of global gold demand in the last quarter, indicating Tether's aggressive market strategy.
- The increase in Tether's gold holdings is a strategic move that enhances its credibility and influence within the financial sector, particularly as it seeks to solidify its role in the cryptocurrency market and attract institutional investors.
- This development reflects a broader trend of cryptocurrency firms diversifying their assets, as Tether also invests in infrastructure firms like Parfin in Latin America to promote the adoption of its stablecoin, USDT, among institutional clients, showcasing a commitment to expanding its market presence.
— via World Pulse Now AI Editorial System
