Why crypto giant Tether is buying gold at rate of 1 to 2 tons per week
There are roughly 370,000 nuclear bunkers in Switzerland, a legacy of the Cold War that are now rarely used. One of them, though, is a hive of activity.
Every week, more than a ton of gold is hauled in to the high-security vault, owned by crypto giant Tether Holdings SA, which is now the world’s largest known hoard of bullion outside of banks and nation states.
Over the past year, Tether has quietly become one of the biggest players in the global gold market — the embodiment of a meeting of the crypto and gold worlds whose shared distrust of government debt is a major factor behind the surge in prices to never-before-seen highs above $5,200 an ounce.
And yet relatively little is known about its inner workings, or its gold strategy….
