I noticed an interesting trend in the market — Tether's gold reserves have surpassed $23 billion. This is quite a significant figure, considering that purchase volumes have started to outpace even countries. Jefferies notes that the reserve growth is steady, indicating increasing demand for gold as a core asset.

It's fascinating to see how the price of an ounce of gold in dollars influences such accumulations. When the metal's value rises, reserves become increasingly important for the stability of USDT. Analysts see this as a sign that demand for gold reserves as backing for stablecoins is only growing.

Essentially, Tether is becoming one of the largest holders of gold, and this is no longer just a figure in a report — it's a real asset supporting the cryptocurrency market. The price of an ounce of gold in dollars is now directly linked to investors' confidence in stablecoins. Jefferies emphasizes that this reserve growth is a signal of institutional interest in the crypto infrastructure, which could change the traditional financial market's attitude toward digital assets.