In a surprising twist that underscores the ever-evolving landscape of cryptocurrency, Tether, the prominent issuer of the world’s largest stablecoin, USDT, is reportedly exploring ventures far beyond the digital realm. According to a recent Financial Times report, Tether has been engaged in discussions about delving into the gold mining sector, aiming to invest significantly into the gold supply chain. This intriguing development highlights the stablecoin giant’s interest in diversifying its portfolio into tangible assets.
Tether’s Bold Move into Gold
The talks reportedly involve Tether considering investments in various facets of the gold industry, including refining, trading, and royalties. The news surfaced as Tether CEO Paolo Ardoino drew an analogy between gold and bitcoin at the Bitcoin 2025 conference held in May, describing the precious metal as “bitcoin in nature.” This statement hints at a philosophical alignment between digital and physical assets, where gold is perceived as a stable store of value, much like bitcoin is seen by crypto enthusiasts. As explored in Bitcoin Faces Jobs Test as Tether Considers Gold Mining: Crypto Daybook Americas, this alignment could influence market perceptions of both assets.
An industry insider, who remains unnamed, labeled Tether as “the weirdest company” they’ve ever encountered. Such a characterization might stem from Tether’s unconventional moves, blurring the lines between digital finance and traditional commodities.
But here’s the kicker: Tether isn’t entering this space as a novice. The company already has a substantial stake in the gold market, holding $8.7 billion worth of gold bars in a Zurich vault. This existing investment demonstrates Tether’s commitment to the precious metal and adds credibility to its potential expansion into gold mining.
The Gold Market’s Lure
Gold’s allure has been particularly strong recently. This week, the metal soared to an all-time high of over $3,550 per ounce—nearly doubling its value over the past two years. Such a meteoric rise is largely attributed to its status as a safe haven amid global geopolitical tensions. For many investors, both in traditional and crypto markets, gold represents a stable anchor in turbulent times. For more on the interplay between gold and crypto, see Bitcoin Treads Water, Gold Extends Gain as U.S. Jobs Report Looms: Crypto Daybook Americas.
Tether’s potential move into gold mining could be seen as a strategic play to capitalize on this rising trend. The company’s recent purchase of a minority stake in Elemental Altus (ELE), a publicly traded precious-metals investment firm, further underscores its interest in the sector. This June, Tether shelled out $89.2 million for this stake, signaling its readiness to deepen its involvement in the gold market.
Implications for the Crypto World
What does this mean for the wider cryptocurrency ecosystem? Tether’s foray into gold mining could set a precedent for other crypto companies to consider diversifying into traditional asset classes. The intersection of crypto and commodities might open new avenues for investment and innovation, bridging two worlds that have often been seen as separate.
Yet, it’s not without its challenges. The gold mining industry is fraught with environmental and ethical concerns, raising questions about how a crypto-native company like Tether plans to navigate these waters. The lack of an immediate response from Tether to inquiries from CoinDesk leaves much to speculation.
Looking ahead, Tether’s potential expansion into gold mining raises important questions about future trends in crypto investments. Will other digital asset companies follow suit, seeking stability in commodities? Or will Tether’s bold move be seen as an outlier, a unique strategy by a company unafraid to chart its own course?
As the lines between digital assets and traditional commodities continue to blur, the market will be watching closely. Tether’s next steps could very well set the tone for a new era of investment strategies, blending the old with the new.
Source
This article is based on: Tether Held Talks to Invest in Gold Mining: FT
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
