"Tether, the world's largest stablecoin issuer, is storing gold in a Cold War-era nuclear bunker in Switzerland. The company is stockpiling more than a ton of the precious metal every week in the Swiss mountains to back its gold-pegged XAUT Token-an attention-grabbing security measure once employed by a Bitcoin firm from crypto's early days. Tether currently owns an estimated $24 billion in gold, the most of any holder outside of governments, central banks, and major ETFs."
"During this rally, gold has climbed 83% in the last year, even as Bitcoin-the so-called "digital gold-posted a 20% decline. The precious metal has even beaten the original cryptocurrency over the long term, as gold is up 174% in the last five years, while Bitcoin is up 142% since then. Investors are betting against the dollar, which is supposed to be a recipe for success for those in the crypto world."
Tether is storing and rapidly accumulating gold in a Cold War-era Swiss nuclear bunker, adding more than a ton each week to back its XAUT gold-pegged token and to build its treasury. The company holds roughly 140 tons, worth an estimated $24 billion, more than most non-government entities. The accumulation aligns with a strong precious-metals rally: gold has surged while Bitcoin lagged. Swiss vaults and historical crypto custody precedents reflect a security-first approach. Market flows show investors favoring gold over Bitcoin, betting against the dollar and reshaping generational asset preferences.
Read at Fortune
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