Tether, the issuer of the world’s largest stablecoin, significantly expanded its gold reserves in the second quarter of 2026, purchasing an additional 14 tonnes of the precious metal. This acquisition brings its total gold holdings to a record 146 tonnes, valued at approximately $18.8 billion based on current market prices. The move cements Tether's status as the largest known private holder of physical gold outside of central banks and governmental institutions.
The Q2 2026 purchase follows a massive accumulation of 53 tonnes between the third quarter of 2025 and the first quarter of 2026. As a result, Tether’s gold holdings have more than doubled since the start of 2025, while their dollar value has nearly tripled over the same period. Gold now accounts for roughly 10% of Tether’s $187.8 billion total reserves, highlighting its growing strategic role alongside U.S. Treasuries.
The scale of Tether’s buying is such that only four central banks—Poland, Uzbekistan, China, and Kazakhstan—acquired more gold than the company in the first half of 2026. This effectively places Tether in competition with sovereign nations for physical bullion. The company also reported a $1.5 billion profit for Q2 2026 and disclosed it held 98,933 BTC as of the reporting date.
Gold’s spot price saw a temporary rejection near the $4,300 per ounce level, trading around $4,285. Despite this technical resistance, Tether’s relentless accumulation signals a structural vote of confidence in the metal as a reserve asset. The ongoing diversification reinforces the stablecoin issuer’s balance sheet and may further bolster market trust in its operations.
