Bloomberg: Tether has become one of the largest gold buyers in the market, holding over $12 billion in gold as of September

According to Bloomberg, stablecoin issuer Tether has become one of the largest buyers of gold in the market. Currently, the reserves of USDT include gold, and its latest reserve report shows that the company holds gold worth over $12 billion, with an average weekly increase of more than 1 ton of gold over the past year.

It is reported that this statistic does not include the gold reserves of its gold-backed stablecoin (XAUT), nor does it account for private gold investments made with Tether's billions of dollars in profits.