According to a recent report by investment bank Jefferies, Tether's physical gold reserves have surged to 148 tons as of January 2026, valued at approximately $23 billion, placing it among the top 30 global gold holders.
Significant Gold Purchases Between 2025 and Early 2026
The report indicates that Tether acquired about 26 tons of gold in Q4 2025, followed by an additional 6 tons in January 2026. This quarterly purchase volume surpasses that of many central banks, second only to Poland and Brazil.
- By the end of 2025, Tether's gold reserves were already valued at around $17 billion.
- Its current gold holdings now exceed those of countries like Australia, the United Arab Emirates, and Qatar.
Gold Backing Stablecoins and Tokens
The gold reserves are primarily used to back Tether's USDT stablecoin and XAUT gold-backed token, signaling a strategic diversification of its asset reserves.
It's important to note that as a private company, the disclosed figures represent only the minimum estimate, and Tether may hold even more gold than reported.