BREAKING: Tether purchased +6 tonnes of gold in Q1 2026, bringing total holdings to a record 132 tonnes, now worth ~$19.8 billion. This follows +21 and +26 tonnes acquired in Q4 and Q3 2025. Tether’s gold holdings have more than DOUBLED in just 12 months and nearly TRIPLED in value over the same period. In 2025, the crypto firm acquired more gold than every central bank except Poland. In Q1 2026, the only central banks that bought more gold were Poland, Uzbekistan, Kazakhstan, and China. Tether is competing with central banks for gold.(The Kobeissi Letter)