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What is the point of stablecoin holder to hold gold? digital currency cannot be trusted on its own?

• Maxatar 8mo ago
  If you read the article, it's because Tether also issues a gold token called XAUT whose value is pegged to the price of gold: https://coinmarketcap.com/currencies/tether-gold/ https://coinmarketcap.com/currencies/tether-gold/
  • Scoundreller 8mo ago
    Their whole market cap only equates to ~14 tons at current prices though… and article says they bought 26 tons in the quarter before this quarter where they bought 27 tons…
    • jfyi 8mo ago
      Step 1, people hand Tether real money at 0% interest. Step 2, Tether invests in interest bearing assets. Step 3, Repeat step 2 with profits from step 2. The choice of gold is just diversification. Kind of odd timing though.