Tether Emerges as World's Largest Gold Buyer

Tether, the company behind the USDT stablecoin, has emerged as one of the world's largest gold buyers. In the first half of 2026, it acquired over 27 metric tons of gold, matching Kazakhstan's central bank purchases.

This puts Tether on par with major gold-buying nations like Poland and Uzbekistan, behind only China. The company's total gold reserves have increased by approximately 85 metric tons since Q1 2025, surpassing the growth seen in countries like Brazil, Uzbekistan, and Kazakhstan.

Tether's motivations for buying gold mirror those of central banks: to diversify its reserves and hedge against inflation and dollar weakness. As USDT is pegged to the U.S. dollar, a weaker dollar directly impacts Tether's stablecoin.