Tether Chief Says Bitcoin and Gold Will ‘Outlast’ Other Currencies

As far as Paolo Ardoino is concerned, bitcoin and gold have superior staying power.

“Bitcoin and Gold will outlast any other currency,” the Tether CEO wrote in a post on social platform X Sunday (Oct. 12).

His comment was flagged in a report from Coindesk, which notes that this statement lines up with how Tether has positioned parts of its reserves in the last two years.

In May of 2023, the stablecoin issuer said it would regularly allocate up to 15% of net realized operating profits to buy bitcoin for reserves, adding the token to surplus instead of using it to back its USDT in circulation one-for-one. The company had described the move as an effort to bolster its balance sheet with a long-term store of value.

Gold, Coindesk added, works in tandem with bitcoin in that mix. Tether issues a token called tether gold, (XAUt), which is backed by allocated bars. The company has also held talks to invest across the gold value chain in a push for wider diversification, the report added.

This isn’t the first time Ardoino has lumped the assets together. Last month, he referred to bitcoin, gold and land as hedges but later dismissed suggestions that Tether sold bitcoin to accumulate gold, saying the company was still focused on growing its bitcoin position.

In other stablecoin news, PYMNTS wrote recently about the tokens’ transition beyond their one-time status as solely cryptocurrency-native tools.

“FinTechs from PayPal to Visa and beyond are experimenting with stablecoin infrastructure or token issuance, and often both,” that report said.

“With a market cap now north of $300 billion, stablecoins are increasingly looking to prove their mettle as a programmable settlement medium that any business might deploy for reasons ranging from loyalty incentives to cross-border B2B payments.”

Stripe and Bridge in September introduced Open Issuance, a platform allowing businesses to mint and manage their own stablecoins. This pact, PYMNTS wrote, underlined the fact that the barriers to enter this new money movement ecosystem have never been lower.

The rise of corporate stablecoins could point to a future where payment rails, loyalty programs and treasury operations blend into a single layer of programmable money.

“Yet as alluring as this vision may be, the road to issuing a stablecoin is strewn with challenges,” PYMNTS added. “The decision to launch one is not simply a marketing or product development choice; it’s a strategic move that forces businesses to grapple with the realities of blockchain infrastructure, liquidity economics and regulatory risk.”