New Era of Money Begins: Tether Could Dominate Global Bond and Gold Markets

Stablecoin issuer Tether is projected to become one of the world’s largest institutional asset holders by 2030. Tether currently holds approximately US$117 billion in US government bonds and 132 metric tonnes of gold, positioning it as a significant entity in global debt market liquidity and commodity reserves. Although its current US Treasury holdings are still below those of nations like Japan (US$1.2 trillion) and the United Kingdom (US$927 billion), market analysis suggests the stablecoin market capitalisation could reach between US$1.9 trillion and US$4 trillion by 2030. Assuming Tether maintains its 59% market share and a 61% allocation to US Treasuries, its holdings could reach US$682 billion in a base scenario, or up to US$1.4 trillion in an optimistic scenario, exceeding Japan’s current holdings. Tether is also aggressively accumulating physical gold. Its current 132 metric tonnes remain below the UK’s 310 metric tonnes, but with a constant 10% allocation and gold prices estimated at US$5,000 per ounce by 2030, Tether’s gold reserves could rise to 719 metric tonnes in a base scenario and 1,514 metric tonnes in an optimistic scenario, far surpassing Japan’s current 846 metric tonnes. This development marks an increasingly strong integration between the digital economy and conventional financial systems.