Tether turns into a financial powerhouse thanks to their James Bond bunker

We already discussed it a month ago, and now larger business websites have jumped on the bandwagon as well. Tether, arguably the world’s largest stablecoin, is buying so much gold that it could easily compete with a medium-sized country in terms of reserves.

James Bond

Bloomberg reiterated that gold purchases by the Chinese government (which also buys a significant amount of silver) and Tether are pushing the gold price a few percentage points higher than it would normally be. Tether is increasingly storing this gold in a bunker in Switzerland, a location primarily used as a safe haven during the Cold War. According to Tether’s CEO, Paolo Ardoino, this is the company’s own “James Bond” bunker.

In this way, Tether is increasingly using the capital that makes up its market capitalization to invest in precious metals. Meanwhile, the price of gold continues to rise, approaching a record high of $5,300 per ounce.

The company behind the world’s largest stablecoin is now buying more gold than Greece, Qatar, or even Australia, to name just a few.

Meanwhile, more and more countries are buying gold, as many believe a major geopolitical conflict is looming, which would cause inflation to spike and fiat currencies to become worthless. Only Russia, involved in a war with Ukraine for four years already, is a net seller of gold, not a buyer.