“We are soon becoming basically one of the biggest, let’s say, gold central banks in the world,” Adroino said in a recent interview.
The firm’s frontman said Tether owns around 140 tons of gold, around $24 billion worth following the asset’s recent record surge, and it intends to keep buying at its current pace at least for the next few months.
Buying and storing gold is not a simple process, and it’s something the firm is hoping to make more efficient over time, according to Ardoino. He told Bloomberg that the firm hauls its weekly gold acquisitions into a high-security vault that was once a Swiss nuclear bunker, hidden behind multiple layers of steel doors.
“It’s a James Bond kind of place,” Ardoino said. “It’s crazy.”
“Maybe we are going to reduce, we don't know yet,” Ardoino told Bloomberg of the firm’s future plans to acquire the metal. “We are going to assess on a quarterly basis our demand for gold.”
