Bitcoin and Gold: Tether's Latest Investment Boosts 'Dual Pillar Strategy'
Summary
Tether has acquired a 31.9% stake in Elemental Altus Royalties Corp., purchasing 78,421,780 shares for CAD 121.5 million (over USD 89 million). This investment aligns with Tether's strategy to promote gold alongside Bitcoin as a safe-haven asset. Tether CEO Paolo Ardoino emphasized the importance of both Bitcoin and gold as resilient stores of value against inflation. Tether mints USDT, a stablecoin pegged to the US dollar, which is widely used in crypto trading and by individuals in emerging markets. The company holds over 100,000 BTC valued at $10.7 billion and nearly 80 tons of physical gold. Tether also offers a gold-backed stablecoin, XAUT, with a market cap exceeding $833 million.
