Their whole market cap only equates to ~14 tons at current prices though… and article says they bought 26 tons in the quarter before this quarter where they bought 27 tons…
jfyi•1w ago
Step 1, people hand Tether real money at 0% interest.
Step 2, Tether invests in interest bearing assets.
Step 3, Repeat step 2 with profits from step 2.
The choice of gold is just diversification. Kind of odd timing though.
MikeNotThePope•1w ago
Scoundreller•1w ago
function_seven•1w ago
theautist•1w ago
"The reserves backing Tether USDT were dominated by the U.S. Treasuries with gold representing only 7% as of the end-September."