Tether, known for its activities in the stablecoin sector, has made a strategic move by investing in gold mining.
Tether's Investment in Gold Mining
Tether, led by Paolo Ardoino, has invested in Elemental Altus, a gold royalty company based in Toronto. This decision aims to deepen Tether's influence in gold assets.
Impact on XAU₮ and the Market
Tether's investments positively affect the XAU₮ token, which is backed by physical gold reserves valued at $880 million. This step is seen as a hedge against macroeconomic risks amid instability in global markets.
Influence on Other Stablecoin Issuers
Experts note that Tether's strategy could inspire other stablecoin issuers to invest in real assets. Tether's involvement in gold mining serves as an example for changes in the management of stablecoins within the broader crypto-financial ecosystem.
Tether's strategy of investing in gold illustrates the company's intent to adapt to financial fluctuations and potentially sets a new course for other market participants.
