Stablecoin group Tether holds talks to invest in gold miners

FT ^ | 5 Sep 25 | Leslie Hook

[delta7]

Tether, the biggest stablecoin company, has held talks about investing in gold mining, seeking to deploy its vast crypto profits into bullion.

The company has held discussions with mining and investment groups about investing in the entire gold supply chain, from mining and refining to trading and royalty companies, according to four people familiar with the recent talks.

While gold has been a physical store of value for thousands of years and bitcoin has only existed as a digital instrument since 2009, there is a growing affinity between some industry executives.

Tether chief executive Paolo Ardoino has likened gold to "natural bitcoin."

"I know people think that bitcoin is 'digital gold,'" he said in a speech in May. "I prefer to think in bitcoin terms -- I think gold is our source of nature." ...

[delta7]

I find it amusing the E monies ( Stablecoins,Tethers, Bitcoin clones, etc) are investing in Gold.

Exter’s Pyramid

https://www.daytrading.com/exters-pyramid

[wny]

Bitcoins are is e-tulips

[janetjanet998]

Tether becoming a giant

Stablecoin-issuer Tether has become the 18th-largest holder of United States Treasurys globally, surpassing the holdings of South Korea 128billion

has accumulated $8.7 billion worth of physical gold, which is stored in a vault in Zurich, Switzerland.

Tether has invested in over 100 companies

Including 30 percent of Rumble video (soon to be 47%) and 25% of Bitcoin miner Bitdeer

[spacejunkie2001]

fantastic. They should start with the Colosseum mine in CA. Millions of ounces of gold...$DTREF

[spacejunkie2001]

Let’s get ready to RUMMMMMble

[thinden]

bbb

[PGR88]

Its rather ridiculous

Why buy an electronic, digital derivative of shares in a gold-mining company when you can just go out and buy the actual thing?

Yes, I’ve heard the “ease of transfer” argument, but such a derivative just means you are one further step away from real ownership.

[janetjanet998]

They already own Gold over $8 billion worth

Paolo Ardoino 🤖

@paoloardoino

Tether 🥫

- top 18 nation in US Treasury holdings
- top 40 nation in Physical Gold holdings
- 100k+ Bitcoin holdings

[mairdie]

Grandfather tried it the old fashioned way, with a gold mining company.

[EnderWiggin1970]

Dollars are e-tulips.

They exist 95% in digital form. They have no scarcity. They are centrally controlled and issued. They are subject to counterfeiting. They require manual auditing because the protocol is not secure. They can be censored.

If anyone created a cryptocurrency with the characteristics of the dollar it would be laughed out of cyberspace.

[Karl Spooner]

Tether is a great way for sanctioned countries to use the US Dollar without the dollars ever touching a US bank or the Swift payment system. I’m surprised we haven’t bombed them yet.

[catnipman]

everything about Tether is completely opaque, including where it banks in the Caribbean, namely the corrupt bank Deltec Bank & Trust in the corrupt Bahamas ...

Deltec Bank & Trust is the very same bank that helped facilitate Sam Bankman-Fried’s multibillion dollar FTX fraud ...

no one has a clue as to how much, if any, Tethers are backed by actual dollars or dollar-denominated securities ...

so yes, everyone, let’s all of us stake the stability of the economies of the free world on Tether ...