🐋 WHALE WATCH : Tether bought 14 tonnes of gold in Q2 bringing their total to 146 tonnes $18.8B in physical gold. That makes them the largest private holder outside central banks and governments. The model is straightforward: T bill yield converts into hard assets. Gold and Bitcoin not cash. Fiat income flows out one end physical assets accumulate on the other. Thats a central bank balance sheet. Built by a stablecoin company.(Whale Factor)