Tether: Why the #1 Stablecoin Invests in Physical Gold | Metals Mine

  • Tether: Why the #1 Stablecoin Invests in Physical Gold

    From goldbroker.com

    The world's largest private holder of physical gold is Tether, with 80 tons worth approximately $8 billion. Why is this? Let's start by reminding ourselves what a stablecoin is: it is a cryptocurrency indexed to a given asset, most often a currency, primarily the dollar — 1 tether (USDT) = 1 dollar. USDT was originally designed for traders who speculate on different cryptocurrencies but also want to be able to close out their positions at night or on weekends, or secure part of their assets by switching all or part of their portfolio to dollars. But selling cryptocurrencies for real dollars is time-consuming, ... (full story)

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