The biggest joke in the crypto world is that retail investors generally think they are smarter than the Tether boss

After looking at the S&P rating, which downgraded the view of USDT's parent company Tether, many people blame him for using the money to buy Bitcoin.

But in reality, the bigger picture is that Tether has been frantically hoarding gold over the past few months; just last quarter, they purchased nearly 12% of the net gold purchases by central banks worldwide during the same period.

The official explanation is that Tether is aiming to create a gold-backed stablecoin, but in reality, this company is increasingly resembling a gold micro-strategy.

In other words, the money earned from USDT in the crypto sphere is prioritized for buying physical gold, while simultaneously investing in a portfolio of gold mining, processing, and large mining operations, which they cannot stop.