Tether now holds a large private stockpile of physical gold, using the metal both as reserves and tradable assets.

Storage in Swiss bunker

The company converted a former nuclear bunker in Switzerland into a vault, joining about 370,000 similar Cold War‑era facilities in the country.

CEO Paolo Ardoino described the site as cinematic, protected by multiple layers of thick steel doors and enhanced security systems.

«A place out of a James Bond movie»

Reserves and deliveries

Tether presently owns roughly 140 tons of gold with an estimated value of $23 billion, making it the largest known private physical holding.

In 2025 the company purchased more than 70 tons, a volume larger than acquisitions by almost any central bank during the same period.

Deliveries to the bunker occur at a pace of about 1–2 tons per week, and Ardoino stated that this tempo will continue for at least several months.

Market strategy and tokens

Beyond accumulation, Tether plans to actively trade its gold holdings and compete with major market participants such as JPMorgan and HSBC.

Gold underpins the reserves of the stablecoin USDT and supports the company’s bullion‑backed token, Tether Gold (XAUT), which has reached a capitalization of $2.6 billion.