Bitrabo Editorial
Gold, regarded as the foundational asset for value, is approaching the $3,000 mark, currently trading above $2,700 and reaching new all-time highs.
As the value of gold continues to rise, investments may shift towards Bitcoin, the digital counterpart, potentially pushing its value over $74,000.
3 Tons of Gold in Token Form
Both gold and Bitcoin have unique benefits, with many prefering the flexibility offered by BTC. Recently, a single entity appears to be investing in both assets.
A study from Arkham, a firm specializing in blockchain intelligence, indicates that a particular wallet contains over $250 million in Tether Gold, which translates to about 3 tons of gold in real-world terms.
The identity of this gold asset owner is currently unknown. However, utilizing AI technology, Arkham suggests that this gold might be linked to RhinoFi. The platform has reportedly managed over $2.3 billion through more than 48.8 million transactions and is actively bridging 31 different blockchains, serving over 2 million accounts.
Tether Gold functions as a stablecoin, aligning with the actual market value of gold. As of October 22, more than 246,520 digital gold tokens have been created on the Ethereum network. Data from Ethplorer shows there are 2,618 holders of these tokens, who have executed upwards of 39,500 transfers.
Although it isn’t definitively proven that RhinoFi is behind nearly half of all Tether Gold, tokenization is gaining momentum. The achievement of USD-backed stablecoins like USDT and USDC, especially in developing markets, underscores their permanence in the financial ecosystem.
BlackRock’s Assurance in Tokenization, Over $2.4 Billion in Treasuries and Bonds on the Blockchain
Transforming physical assets into tokens on public blockchains such as Ethereum or Polygon streamlines the transfer process and increases accessibility. The CEO of BlackRock anticipates that the tokenization sector will soon reach trillions in value.
According to Coingecko statistics, the total asset tokenization has exceeded $7.9 billion, primarily on platforms like Ondo, Pendle, and Mantra. Tokenized alternatives besides Tether Gold consist of Pax Gold and Quorium.
Real estate and U.S. Treasuries are also being converted into token form. BlackRock, a leading asset management firm, is issuing BUIDL on the Ethereum blockchain.
According to rwa.xyz data, more than $2.4 billion worth of U.S. Treasuries, bonds, and cash equivalents are now tokenized. BlackRock’s BUIDL is managing over $550 million in these tokenized assets.