Tether Now Ranks Among World’s Top 30 Gold Holders

Tether has emerged as one of the world’s largest gold holders, surpassing multiple sovereign nations with an estimated 148 tonnes of bullion valued at roughly $23 billion. The stablecoin issuer’s aggressive accumulation strategy has positioned it among the top 30 global owners of the precious metal.

Wall Street investment bank Jefferies released a report on Sunday detailing Tether’s gold reserves as of January 31. The firm’s quarterly gold purchases exceeded those of most individual central banks during the final quarter of 2025.

Jefferies estimates that Tether holds about 148 tonnes of physical gold worth roughly $23 billion, after buying about 26 tonnes in the last quarter of 2025 and adding another 6 tonnes in January. The gold is used to back USDT reserves and the gold-backed token XAUT, placing…

— Wu Blockchain (@WuBlockchain) February 9, 2026

Only Poland and Brazil acquired more gold than Tether during that period. The company added approximately 26 tonnes in Q4 2025 and another 6 tonnes in January alone.

Tether’s holdings now exceed those of Australia, the United Arab Emirates, Qatar, South Korea, and Greece. The crypto firm has become one of the largest non-sovereign buyers of bullion worldwide.

Tether Gold Reserves Back Two Major Tokens

The 148 tonnes of bullion serves as backing for two distinct Tether products. These include the U.S. dollar-pegged stablecoin USDT and the gold-backed token XAUT.

According to USDT’s fourth-quarter attestation, approximately $17 billion worth of gold sat in reserves. This figure amounted to 126 tonnes based on year-end gold prices.

Meanwhile, XAUT’s supply expanded to 712,000 tokens worth $3.2 billion by late January. This represented an increase of 6 tonnes of gold backing the tokens.

Tether CEO Paolo Ardoino previously told CoinDesk in October that the gold-backed token enjoyed strong retail demand. Emerging markets drove most of this interest, he noted.

Because Tether remains privately held, Jefferies emphasized its figures represent minimum estimates. The company may hold additional gold not disclosed in public attestations, the analysts said.

$150 Million Investment Expands Gold Strategy

Tether Investments has acquired a 12% stake in Gold.com through a $150 million transaction announced on February 7. The deal establishes a long-term partnership focused on integrating XAUT into the precious metals platform.

Tether Makes $150 Million Strategic Investment in https://t.co/wkdntYlIFB, Expanding Global Access to Tokenized and Physical Gold

Read more:https://t.co/ttkmDcS369

— Tether (@tether) February 5, 2026

The investment arrives as gold prices have surpassed $5,000 per ounce. Global macroeconomic uncertainty continues driving demand for traditional safe-haven assets.

Both companies plan to explore options enabling customers to purchase physical gold using digital currencies. Payment options would include USDT and the newly launched USA₮, a federally regulated dollar-backed token.

Ardoino emphasized the strategic nature of the acquisition in a statement accompanying the announcement.

He characterized gold exposure as a hedge rather than a speculative trade for the company. The partnership aims to make gold as accessible and transferable as modern digital money.

Tether’s buying spree coincides with a historic rally in gold prices. The metal topped $5,000 per ounce last month after advancing nearly 50% since September.

Central bank demand has driven much of the surge. Rising long-term government bond yields have also contributed to gold’s appeal among institutional buyers.

Jefferies noted that Tether’s buying activity may continue. Ardoino stated the company plans to allocate 10% to 15% of its investment portfolio to physical gold.

This formalized strategy has already played out over several years. The company’s reserves have grown substantially as gold prices climbed to record highs.

The undisclosed purchases likely made on Tether’s balance sheet suggest total exposure exceeds public figures. Jefferies analysts said the privately held structure limits visibility into the company’s full gold position.