On Jan. 28, 2026, Tether reported it holds more than 140 tons of gold, worth about $23 billion, stored in a nuclear bunker in Switzerland (reported). The company’s chief, Paolo Ardoino, said the firm is moving to become one of the largest gold central banks and will buy one to two tons weekly.
“JUST IN: Tether now holds over 140 tons of gold worth $23 billion, the largest known non-sovereign gold stash in the world, stored inside a nuclear bunker.” (Ed. note: this represents the largest known non-sovereign holding.)
Gold reached about $5,200 per ounce on Jan. 28, 2026, marking another record high. Ardoino also stated that U.S. rivals may launch gold-based alternatives to the U.S. dollar, potentially accelerating de-dollarization.
China has increased its official gold reserves in recent years. In 2025, Larry Fink, CEO of BlackRock, said the dollar may not remain the dominant currency and that digital currencies like Bitcoin could supplant it.
The dollar remains highly liquid and central to international trade, making total replacement difficult. Markets and national reserve strategies will likely continue adjusting as countries diversify assets.
