Paolo Ardoino, CEO of Tether, stated in a post on X on Sunday that “Bitcoin and Gold will outlast any other currency.” This succinct statement reflects the way the stablecoin issuer has managed its reserves over the last two years.
On May 17, 2023, Tether announced it would regularly allocate up to 15% of its net operating profits for bitcoin purchases to bolster its reserves, adding BTC to its surplus rather than directly backing USDT. The company presented this strategy as a means of enhancing its long-term financial stability.
Bitcoin and Gold as Complementary Assets
Gold complements bitcoin in this strategy.
Tether offers tether gold (XAUt), a token that is backed by allocated gold bars. On July 24, the company reported that over 7.66 tons of gold supported outstanding tokens as of June 30, 2025. Additionally, according to a report from CoinDesk on September 5, 2025, sourced from the Financial Times, Tether has been in discussions to invest across the gold supply chain, from mining and refining to royalties, as part of a broader diversification strategy.
Ardoino has previously grouped these assets together. On September 7, he referred to bitcoin, gold, and land as hedges, rebuffing claims that Tether had sold BTC to acquire gold, asserting the company’s commitment to expanding its Bitcoin holdings.
The brief post today is more of a reaffirmation than a change in policy, indicating a strategic position where bitcoin is acquired through profits and gold is regarded as a parallel asset through tokenization and possible upstream investments, even as the majority of reserves are held in liquid instruments like U.S. Treasurys according to attestations. The upcoming reserve report, anticipated later this month or early next, will clarify any adjustments in BTC and gold allocations.
As of Sunday, 8:10 p.m. UTC, the U.S. dollar index (DXY) had decreased by 8.88% year-to-date, whereas both bitcoin and gold—BTC-USD and XAU-USD—had appreciated by 22.79% and 52.91%, respectively, as reported by MarketWatch.
