During an interview with Bloomberg, Tether CEO Paolo Ardoino revealed that Tether holds approximately 140 tons of gold, most of which is its own reserve, along with gold backing its gold stablecoin. The company purchases gold at a rate of about 1 to 2 tons per week and plans to continue doing so for at least the next few months. The physical gold is stored in a former nuclear bunker in Switzerland. Ardoino is not content with just buying gold; he also hopes Tether will engage in gold trading. The company aims to become the world's best gold trading platform to continue purchasing gold long-term and capitalize on potential market inefficiencies. Tether’s attitude towards gold is similar to that of a central bank. It values gold’s liquidity and its status as a reserve asset—an asset that is not a debt of any individual or country. Logically, gold is safer than any national currency. Emerging market users are precisely those who love gold and use it to protect themselves from their own governments’ currency devaluation. In simple terms, Ardoino believes that gold as a reserve asset is more important than US Treasuries and the US dollar, but this also raises a very big question: where does Tether get the money to buy gold? Ardoino stated that these funds come from Tether’s profits, not users’ “principal,” but some of the gold will still become part of Tether’s reserve funds. How much exactly depends on the latest Tether disclosure data. @ VIP, lower rates, bigger benefits