Alex Dudov
Newly reported data cited by Bloomberg shows that Tether has significantly increased its gold reserves, with holdings now exceeding 120 tons and approaching $20 billion in value. The latest figures suggest the company has become one of the largest private gold holders outside central banks.
The growth has accelerated over the past year. After relatively stable levels in 2023, Tether began increasing its gold exposure in 2024, with accumulation intensifying through 2025 and continuing into early 2026. Both the volume of gold and the total value of reserves have reached record levels based on recent disclosures.
Additional details reported by Reuters confirm the scale of this expansion. Tether added around 6 tons of gold in Q1 2026 alone, bringing total holdings to approximately 130+ tons, valued at about $19.8 billion. Gold now represents a notable share of the company’s reserve structure backing USDT.
The figures are based on Tether reserve reports verified by BDO and reflect physical gold holdings. The dataset does not include exposure through Tether Gold (XAUT), the company’s tokenized gold product backed by bullion.
Additional market commentary highlights how unusual this pace of accumulation is. Industry observers note that Tether’s gold purchases in 2025 placed it among the most active buyers globally, drawing comparisons with sovereign and institutional demand, although such comparisons are not officially confirmed.
As the issuer of USDT, the world’s largest stablecoin, Tether continues to diversify its reserve structure. The increasing allocation to gold signals a broader shift toward hard assets alongside traditional instruments.
The latest data shows that large crypto issuers are moving toward more diversified and tangible reserve models. Tether’s growing gold position may strengthen confidence in its backing while aligning its strategy more closely with traditional financial institutions that rely on hard assets during periods of uncertainty.
Alex Dudov
