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Tether, the issuer of the market’s largest stablecoin by trading volume, USDT, is reportedly in discussions to invest in gold mining. The company aims to channel its substantial cryptocurrency profits into the metals market.
According to a recent Financial Times report, Tether is exploring opportunities across the entire gold supply chain, including mining, refining, trading, and royalty companies.
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Gold As Foundational Asset
Paolo Ardoino, Tether’s CEO, has expressed a strong affinity for gold, referring to it as “natural Bitcoin.” In a speech earlier this year, he articulated a perspective that contrasts with the common view of Bitcoin as “digital gold,” instead emphasizing that gold represents “a foundational asset.”
Per the report,
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