Capital markets expert The Kobeissi Letter stated Wednesday that the cryptocurrency sector is entering into a “worldwide gold rush,” keeping in mind a substantial boost in the reserves held by stablecoin provider Tether ( CRYPTO: USDT)
Tether: Among Gold’s Greatest Purchasers
In an X post, Kobeissi Letter kept in mind that Tether’s gold holdings struck a record $12.9 billion in September, equivalent to 104 lots of real gold. The worth has more than doubled given that the start of the year.
The marketplaces analyst stated that Tether has actually been building up gold at a rate of over one lot weekly in 2025, making it among the ” greatest purchasers” in the worldwide market.
Since this writing, gold represented 7% of Tether’s overall reserves that back USDT, the world’s biggest stablecoin by market capitalization.
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Merging Of Crypto And Gold?
Especially, Wall Street strategist Tom Lee recommended an “intriguing” connection in between the increase in USDT supply and the increase in gold costs over the last 3 months.
Tether likewise utilizes gold to back its Tether Gold ( CRYPTO: XAUT) stablecoin, with a minimum of one troy ounce backing one XAUT token. Since this writing, XAUT tokens have an overall market price of approximately $1.60 billion.
Previously this year, the business revealed its expedition of financial investments in the gold market as part of its more comprehensive method to diversify make money from its cryptocurrency operations. The business has actually apparently held conversations with mining groups and financial investment companies about chances throughout the gold supply chain.
Rate Action: Since this writing, area gold was trading at $4,216.85 per ounce, up 0.50% over the last 24 hr, according to information from Benzinga Pro. XAU traded up 2.23% at $4,197.
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