$23B in Gold: Tether Becomes the Largest Non-State Gold Holder

Tether holds over 140 tons of gold worth about $23B, making it the world’s largest known non-state gold holder.

Tether Holdings has expanded its gold reserves to more than 140 tons, with an estimated market value of about $23 billion.

According to Bloomberg, this places the stablecoin issuer as the largest known non-government holder of gold worldwide. The holdings position Tether ahead of many national reserves and private institutions.

Tether Builds One of the World’s Largest Private Gold Reserves

Tether CEO Paolo Ardoino confirmed that the company holds more than 140 tons of gold reaching a total value of 23 billion dollars according to Ferre. 

Tether CEO Paolo Ardoino shared this information during an interview with Bloomberg. The reserves support Tether’s balance sheet and its gold-backed stablecoin, XAUT.

Ardoino said Tether aims to grow its exposure to physical gold. “We are soon becoming basically one of the biggest gold central banks in the world,” he stated. The company views gold as a long-term reserve asset.

At current market prices, the gold holdings are valued near $23 billion. This makes Tether the largest non-state gold holder.

The reserves exceed the reported gold holdings of several countries.

Rapid Gold Accumulation Over the Past Year

Tether added more than 70 tons of gold over the past year. Bloomberg reported that these purchases outpaced acquisitions by the largest gold exchange-traded funds.

The buying activity increased during a period of rising gold prices.

Ardoino said the firm has been buying over one ton of gold each week. “And it’s only growing,” he said. He added that purchases will continue for the next few months.

The company reviews its gold demand every quarter. Ardoino noted that buying levels may change based on market conditions. He said decisions will depend on internal demand and pricing trends.

Gold Stored in a Swiss Nuclear-Grade Vault

According to Bitcoin News, Tether stores its gold in a former nuclear bunker in Switzerland. The facility was built for high-security use and includes reinforced concrete and steel structures.

Access is limited through multiple controlled entry points. The design supports long-term protection of physical assets.

The vault is secured by thick steel doors and layered security systems. These include monitored access and restricted movement inside the facility.

“It’s a James Bond kind of place,” Ardoino said while describing the site. He added that the structure allows strict control over storage conditions.

Tether chose this location to ensure safety and controlled access over time. The storage method differs from standard commercial vaults used by most firms.

The company also plans to trade gold directly, placing it alongside banks like JPMorgan Chase and HSBC. Ardoino said the goal is stable and long-term access to bullion markets.

Related Reading: Tether Tops Crypto Revenue in 2025 With $5.2B

Market Reaction and Broader Positioning

Following the report, Tether Gold (XAUT) rose nearly 4% in 24 hours. CoinMarketCap data showed continued gains over the week and month. The move aligned with broader strength in gold prices.

Tether’s gold reserves now exceed those of countries including Greece and Australia. This positions the firm among the top 30 global gold holders.

The ranking includes both public and private entities. Tether continues to expand beyond stablecoins. Its gold strategy reflects a focus on hard assets.

The company has not disclosed future purchase targets beyond the next review period.

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