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Tether Expands Gold Strategy with $100M Mining Investment Amid Record Prices
Tether Expands Gold Strategy with $100M Mining Investment Amid Record Prices
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BTCCSquare news:
Tether Holdings Ltd. is negotiating a $100 million investment in gold mining operations, signaling a strategic push into physical commodities. The USDT issuer has held talks with mining groups to secure exposure across the entire gold supply chain—from extraction to royalties—according to a September 5 Financial Times report.
The MOVE follows Tether's June acquisition of a 31.9% stake in Canadian royalty firm Elemental Altus for $90 million. Gold prices reached an unprecedented $3,550/oz this week as investors flock to haven assets amid macroeconomic uncertainty, creating favorable conditions for the stablecoin giant's commodity pivot.
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