When it comes to private companies (as opposed to governments), the situation looks extremely interesting at the beginning of 2026. It is important to distinguish between those who mine gold and those who simply hold it as an asset.
1. Largest owner-investor: Tether Holdings
Real sensation of 2025–2026. Crypto giant Tether (issuer of stablecoin $USDT ) has become the largest private owner of physical gold outside the banking system.
Reserve: As of January 2026, Tether has accumulated more than 116 tons of gold bars in its vaults (primarily in Switzerland).
Context: This is more than the gold reserves of many countries, such as Qatar or Greece. The company is actively diversifying its reserves, moving away from U.S. government bonds into 'eternal values'.
2. The largest owner-producer: Newmont Corporation
If we consider companies that own gold 'in the ground' (reserves) and on balance in the process of realization, the leader remains the American Newmont.
Reserve: The company's confirmed reserves amount to about 134 million ounces (more than 4100 tons).
Status: This is the largest gold mining company in the world by production volume and market capitalization.
For comparison: Who owns gold in the world at all?
If you go beyond private companies, the hierarchy changes:
State (USA): The undisputed leader — 8,133 tons. This gold is stored in Fort Knox and other vaults.
International organization (IMF): The International Monetary Fund owns approximately 2,814 tons.
ETF funds: For example, the SPDR Gold Shares (GLD) fund owns about 800–900 tons, but this gold belongs to thousands of private investors who purchased shares of the fund.
Why is this important for a trader?
The fact that Tether has become one of the largest players in the gold market is a powerful signal. It ties the cryptocurrency market to the precious metals market more closely than ever before. Now the stability of the USDT stablecoin (and thus the entire crypto market) partially depends on gold prices.
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