Tether Amasses BTC and Gold Amid Fiat Devaluation Fears
Tether's CEO Paolo Ardoino revealed that the company is actively accumulating Bitcoin (BTC) and gold as part of its strategy to protect its balance sheet against potential fiat currency devaluation. According to Ardoino, Tether provides dollar liquidity worldwide through USDT, which it holds along with a significant amount of US Treasury bonds.
Ardoino stated that the company uses a portion of its operating profits to purchase Bitcoin and gold, describing cryptocurrency as a natural inflation protector that can provide foundation for all digital assets. This approach is part of Tether's effort to diversify its reserve structure while expanding the global use of USDT.
The CEO also noted that one of the key factors hindering Bitcoin's adoption is the generation gap, with many decision-makers being over 60 years old and not fully understanding Bitcoin. However, he argued that younger generations have a natural inclination towards adopting digital assets like Bitcoin.