The company selling you USDT is using your money to keep buying gold. Tether, the issuer of USDT, purchased +14 tons of gold in Q2 2026, bringing its total holdings to a record-breaking 146 tons, currently valued at approximately $18.8 billion. This follows the purchase of +53 tons of gold between Q3 2025 and Q1 2026. Tether's gold holdings have more than doubled since Q1 2025, while their value has nearly tripled during the same period. This makes the company the largest known private gold holder, aside from central banks and governments. In the first half of 2026, only 4 central banks bought more gold than Tether: Poland, Uzbekistan, China, and Kazakhstan. Tether is now competing with central banks for gold on an adjusted basis.