Early Bitcoin advocate and ShapeShift founder Eric Voorhees purchased $6.81 million in tokenized gold, while Tether’s gold reserves now stand at $23 billion. Gold prices are near record highs, prompting a convergence between digital assets and traditional safe havens. Voorhees used stablecoins to buy 1,382 PAX Gold tokens, signaling a shift towards lower-volatility assets. Jefferies estimates Tether now holds 148 tonnes of physical gold, ranking among the top 30 gold holders globally. The rise in crypto investors pursuing tokenized gold purchases reflects a growing embrace of traditional hard assets within the sector.

Read more at Yahoo Finance: Early Bitcoin Supporter Eric Voorhees Buys Millions in Tokenized Gold, as Tether’s $23B Holdings Overtakes Governments