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48 sats \ 4 replies \ @Undisciplined 6h \ on: The Gold Trade Tethered(!) to Fiat Money Printing (Bloomberg, Jack Ryan) econ

Interesting that they're still buying at these prices

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166 sats \ 3 replies \ @freetx 6h
Interesting that they're still buying at these prices

Perhaps you don't know, they have a gold backed token: XAUT

So I think its not so much "Tether" buying but holders of XAUT. Supposedly you can redeem for physical gold in Switzerland (certain minimums apply).

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71 sats \ 1 reply \ @denlillaapan OP 5h

No, it's both. They've expanded, as far as I can tell, their own non-XAUT holdings as well. (Or maybe we need to wait for formal quarterly report to "know" that, but that's the impression I'm getting)

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38 sats \ 0 replies \ @Undisciplined 4h

If there are months long lags in taking delivery, it could also be that they haven't been buying as aggressively at the current highs.

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40 sats \ 0 replies \ @Undisciplined 6h

Makes sense. I was thinking it was part of their asset basket that generates yield on the stablecoin.

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