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$BTC $ETH
Tether becomes the largest company holding gold outside of governments and ETF funds. The company now owns more than 140 tons of gold, "actually" stored in a highly fortified former nuclear bunker in Switzerland. Just last year, the company purchased over 70 tons of gold. The company aims to buy 1 to 2 tons of gold weekly, for at least several months.
Tether's CEO likened the company's role to a "central bank in the gold market," emphasizing that gold is a sovereign asset.
One of the key statements from Paolo Arduino, the company's CEO, is that he expects geopolitical opponents of Washington to launch a gold-backed alternative to the dollar.
"Logically, gold is a safer asset than any national currency."
"We believe that foreign countries are buying large quantities of gold, and we believe they will soon launch gold-backed versions as a competing currency to the US dollar."
Two points for discussion, leaving it to you:
- Has the global financial system become imminent to change?
- Where does Bitcoin stand in this equation? Have Tether's beliefs regarding Bitcoin changed?
#ContentMiningRevampPublicBeta #ContentMiningRevampPublicBeta