Tether is reportedly looking to acquire stakes in companies ranging from mining and refining to trading and royalty firms. To back its token, Tether holds US Treasuries, gold, and other assets that have relatively stable value and are highly liquid. The company also has its own gold-backed stablecoin, called Tether Gold (XAUt). Tether has also held talks with a gold mining investment vehicle based in the British Virgin Islands called Terranova Resources. Tether’s talks with gold mining executives comes off the heels of a new all-time high (ATH) for the gold price above $3,600 per ounce.