Tether Amasses BTC and Gold in Bid for Global Dollar Dominance
Tether's CEO, Paolo Ardoino, has revealed that his company continues to accumulate Bitcoin and gold as part of its strategy to expand the dollar network globally. This move is aimed at protecting Tether's balance sheet against potential fiat currency devaluation.
Ardoino stated that a portion of the company's operating profits are used to purchase Bitcoin and gold, with the primary goal being to provide natural inflation protection. He emphasized that Bitcoin serves as the foundation for all digital assets.
The CEO also highlighted that Tether is diversifying its reserve structure by including different asset classes, while expanding the global use of USDT. Ardoino noted that central banks prefer to buy gold daily, but a similar approach towards Bitcoin has not yet emerged.