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Tether Expands into Gold Industry

Published by
Sohrab Khawas

Tether is planning to expand its gold investments beyond holding $8.7 billion in gold bars. The company aims to invest in gold mining, refining, trading, and royalty businesses to strengthen its backing and diversify its assets. In June, Tether bought a $105 million stake in the Toronto-listed Elemental Altus royalty company and recently added $100 million more. CEO Paolo Ardoino said gold is safer than any currency and a natural complement to Bitcoin, signaling a bold future in gold-backed digital finance.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

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