Jefferies: Tether’s 116‑Ton Gold Hoard Rivals Korea, Hungary Reserves
Jefferies reports that Tether has built a gold holding of roughly 116 tonnes, which represented nearly 2% of global gold demand in the last quarter. The firm notes that the scale of the accumulation puts Tether’s stash in the same league as official reserves held by countries such as South Korea and Hungary, an unusual position for a private stablecoin issuer.
Analysts say the aggressive buying may be influencing short‑term market sentiment, as a concentrated, well‑funded buyer can affect price direction and liquidity. For crypto users, the move underscores Tether’s growing use of physical assets to back USDT and could strengthen confidence in the stablecoin, while also prompting closer scrutiny from traders and regulators monitoring gold flows and disclosure of reserves.