Crypto giant becomes major gold buyer
CRYPTOCURRENCY company Tether Holdings has amassed approximately 140 tons of gold worth $23bn in a Swiss nuclear bunker, making it the world’s largest known private bullion hoard outside banks and nation states, said Bloomberg News.
The company purchased over 70 tons of gold last year, exceeding the declared purchases of almost every central bank except Poland, which added 102 tons to reserves, said Bloomberg citing its own calculations.
Paolo Ardoino, CEO, said Tether was buying one to two tons weekly and intended to continue for at least several months. “We are soon becoming basically one of the biggest, let’s say, gold central banks in the world,” he told the…
