๐ป๐ฌ๐ป๐ฏ๐ฌ๐น'๐บ ๐ธ1 ๐น๐ฌ๐ท๐ถ๐น๐ป ๐น๐ฌ๐ฝ๐ฌ๐จ๐ณ๐บ ๐บ๐ป๐น๐ถ๐ต๐ฎ ๐ฉ๐ฐ๐ป๐ช๐ถ๐ฐ๐ต ๐จ๐ต๐ซ ๐ฎ๐ถ๐ณ๐ซ ๐น๐ฌ๐บ๐ฌ๐น๐ฝ๐ฌ๐บ
Bitcoin Stash Exceeds 100,500, Stablecoin Giant Holds 7.7 Tons of Gold
Tetherโs Q1 attestation report shows the company holds over 7.7 tons of real gold backing its XAUโฎ token. The Treasury also reported 100,521 Bitcoin held by Tether at the end of Q1.
Tetherโs co-founder stated that USD-backed stablecoins continue to dominate but hinted at rising competition from other currencies. Tether is currently the seventh-largest holder of U.S. Treasury bills, and its latest report underscores the Dollarโs dominance while removing public gold reserve data.
Stablecoin circulation and market cap are key indicators of crypto adoption, especially in countries where crypto isn't legal tender. Tetherโs growing Bitcoin and gold reserves reflect this demand.
In 2024, Tether earned over $14 billion in profits. Pirate Wires reported it was the most profitable company per employee, making around $93 million per person.
Tetherโs stablecoin issuance, demand, and reserve assets are closely watched by traders. The Q1 report confirms over 7.7 tons of actual gold, boosting investor confidence.
Tether plans to launch Real World Asset (RWA) tokenization and stablecoins backed by non-USD currencies and gold.
The co-founder remarked, โStablecoins preserve Dollar dominance in crypto. But other currencies are coming. The difference is in the backing.โ
He added that other stablecoins may gain traction by offering higher yields to users.
