Tether CEO Paolo Ardoino said in an article on
On May 17, 2023, Tether said it would regularly allocate up to 15% of net operating profits earned toward purchasing bitcoin for reserves, thereby adding BTC to the surplus rather than using it to support the circulation of USDT one-for-one. The company presented the move as strengthening its balance sheet with a long-term store of value.
BTC and gold as parallel pillars
Gold sits alongside bitcoin in this mix.
Tether issues Tether Gold (XAUt), a token backed by allocated bars, and said on July 24 that more than 7.66 tons of the metal backed tokens in circulation as of June 30, 2025. Separately, as CoinDesk reported on September 5, 2025, citing the Financial Times, Tether has held negotiations to invest across the entire gold value chain – from mining and from refining to royalties – part of a wider diversification drive.
Ardoino has already put the trump cards together rhetorically. On September 7, he referred to Bitcoin, gold and earth as hedges and later dismissed suggestions that Tether was selling BTC to accumulate gold, saying the company remained committed to growing its position in Bitcoin.
Today’s eight-word message is less of a policy change than a restatement – bitcoin as a strategic asset added to earnings and gold as a parallel pillar via tokenization and potential upstream investments – while most reserves remain in liquid instruments such as US Treasuries, according to the affidavits. The next reserves report, expected at the end of this month or early next month, will show whether allocations to BTC and gold have changed.
As of 8:10 p.m. UTC on Sunday, the US Dollar Index (DXY) was down 8.88% year to date, while bitcoin and gold – BTC-USD and XAU-USD – were up 22.79% and 52.91%, respectively, according to MarketWatch.
