Tether now holds the largest non-sovereign gold stash in the world. The stablecoin issuer currently holds more than 140 tons of the yellow metal, worth around $23 billion, stored in a nuclear bunker in Switzerland. Tether CEO Paolo Ardoino recently spoke to Bloomberg and said that the firm is on its way to becoming one of the largest gold central banks in a post-dollar world. The Tether chief’s comments further show the rising de-dollarization movement in the world, with gold taking a strong stance.
Will Gold Further Enhance De-Dollarization?
Gold has experienced remarkable growth over the past year. The commodity has hit multiple new all-time highs over the last few months. Gold hit yet another all-time high of $5,200 earlier today, Jan. 28, 2026.
Ardoino stated that US rivals will likely launch a gold-based alternative to the US dollar. The move may add further fuel to the ongoing de-dollarization movement. Ardoino says that Tether will continue buying one or two tons of gold every week for the next few months.
China, one of the top rivals to the US, has amassed substantial gold reserves over the last few years. Many anticipate the world to become increasingly multipolar over the coming years. Such a development will most probably lead to more de-dollarization among countries, in an attempt to diversify their assets.
BlackRock CEO Larry Fink also shares a similar opinion. In a 2025 letter to shareholders, Fink stated that the US dollar may not remain the dominant currency in the future, and digital currencies, such as Bitcoin (BTC), could potentially supplant the US dollar’s position.
Also Read: Gold Price Prediction For The Next 5 Years
While the US dollar has seen a substantial dip in subscribers over the last two decades, replacing it entirely is no easy task. The dollar-based international trade system is a well-oiled machine, and no other currency comes close in terms of liquidity. Other currencies are trying to enter the dollar’s spotlight, but it will perhaps take decades for such ambitions to be fulfilled. Meanwhile, the US is making its own attempts to maintain the dollar’s global dominance. In whichever way things unfold, financial market are sure to see big changes over the coming years.
