According to the Financial Times, Tether is expanding its gold strategy by engaging with mining, refining, trading, and royalty firms, including a major stake in Elemental Altus and talks with Terranova Resources.
Tether is pursuing broader investments in the gold sector, according to the Financial Times. The stablecoin issuer has already acquired a controlling 38% stake in Toronto-listed Elemental Altus Royalties Corp. worth about $82 million, with rights to increase its ownership beyond 50%. Talks with Terranova Resources did not yield a deal. Tether CEO Paolo Ardoino has expressed strong support for gold, calling it “natural Bitcoin.” The company holds $8.7 billion in gold reserves stored in Zurich to back its XAUt token and reported $4.9 billion in Q2 2025 profits. Gold recently reached new highs above $3,500.