Tether, the issuer of the world's largest stablecoin USDT, is actively pursuing investments in gold mining firms as part of its strategy to diversify crypto-derived earnings into traditional commodity-linked assets. According to the Financial Times, the company has held discussions with mining groups about investing across the gold supply chain, including refining, trading, and royalties.
In June 2025, Tether Investments paid $105 million for a minority stake in Toronto-listed gold royalty company Elemental Altus. Recently, it increased this investment by an additional $100 million as Elemental announced a merger with rival EMX. Tether already holds $8.7 billion in physical gold bars stored in a Zurich vault and offers Tether Gold (XAUT), a stablecoin where each token represents one troy ounce of gold.
CEO Paolo Ardoino has referred to gold as "bitcoin in nature," highlighting ideological alignment in terms of scarcity, perceived value, and global accessibility. This move is seen as a risk reduction strategy against cryptocurrency market volatility, leveraging gold's status as a safe-haven asset. Tether reported a $5.7 billion profit in the first half of 2025, providing substantial capacity for such investments.
