Markets
What to know, darling:
- The inimitable Paolo Ardoino, Tether’s CEO, proclaimed on X (formerly the playground of the plebeian Twitter) that “bitcoin and gold will outlast any other currency.” How utterly predictable, yet charmingly audacious! 💎
- Tether, in a fit of financial flamboyance, declared in May 2023 it would lavish up to 15% of its realized profits on bitcoin, as if the world needed more proof of its extravagance. Later, it whispered sweet nothings about growing gold reserves for XAUt. 🌟
- Ardoino, ever the wordsmith, has linked these two darlings of the financial world before, while swatting away rumors of Tether’s alleged BTC-to-gold swap like a fly at a picnic. Investors, ever the drama queens, await the next attestation with bated breath. 🎭
Ah, Paolo Ardoino, the modern-day oracle of stablecoins, took to X on a Sunday (when the rest of us are brunching) to declare, “Bitcoin and Gold will outlast any other currency.” How delightfully minimalist! One might say it’s the financial equivalent of a little black dress-timeless, chic, and utterly unconcerned with the fleeting fads of fiat. 🕶️
On May 17, 2023, Tether announced it would allocate up to 15% of its net realized operating profits to purchase bitcoin, not to back USDT (heaven forbid!), but to strengthen its balance sheet with a long-term store of value. Because, darling, why settle for mere stability when you can have opulence? 🤑
BTC and gold as parallel pillars
Gold, that eternal siren of the financial world, sits alongside bitcoin in Tether’s treasure trove. Tether Gold (XAUt), a token backed by actual bars of the stuff, boasted over 7.66 tons of metal backing as of June 30, 2025. And, as if that weren’t enough, Tether has been flirting with investing across the gold value chain-mining, refining, royalties-because why stop at tokenization when you can own the entire fairy tale? 🏰
Ardoino, ever the rhetorician, has grouped bitcoin, gold, and land as hedges, dismissing whispers of Tether selling BTC for gold with the grace of a man swatting away a mosquito. “We remain committed to growing our bitcoin position,” he declared, as if anyone doubted his flair for the dramatic. 🎤
Today’s eight-word post is less a policy shift than a restatement of Tether’s grand strategy-bitcoin as the strategic asset, gold as the parallel pillar, and the rest of the reserves lounging in liquid instruments like U.S. Treasurys. The next reserve report, expected soon, will reveal whether Tether’s affections for BTC and gold have waxed or waned. Stay tuned, darlings! 🎬
As of Sunday, 8:10 p.m. UTC, the U.S. dollar index (DXY) was down 8.88% year to date, while bitcoin and gold-those divas of the financial world-were up 22.79% and 52.91%, respectively. Who needs fiat when you can have forever? ✨
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2025-10-13 00:42