Tether is in talks about investing in gold mining and currently holds $8.7 billion worth of gold reserves

According to ChainCatcher, according to the Financial Times, Tether is in talks about investing in gold mining. The company plans to invest in all aspects of the gold supply chain, including mining, refining, trading and concession companies. Tether currently holds $8.7 billion worth of gold reserves in the Swiss treasury of Zurich as collateral for its stablecoins. In June this year, Tether Investments has spent $105 million to acquire a minority stake in Toronto-listed gold concession Elemental Altus. Tether CEO Paolo Ardoino previously said that gold should be a safer asset than any sovereign currency and could be a supplement to Bitcoin.