Billionaire mining executive Pierre Lassonde is predicting a massive shift of cryptocurrency capital into gold investments, citing recent moves by major crypto companies as evidence of an emerging trend.
Lassonde, chairman and founder of Franco-Nevada Corp. and former president of Newmont Mining, told King World News that cryptocurrency companies holding “tens of billions of dollars” could significantly impact gold and gold stock prices if they increase their gold backing.
“When you look at the amount of money, frankly it’s a deluge of money, it’s a tsunami of money that’s floating in there, that would have a big impact on gold and gold stocks,” Lassonde said in an August 8 interview.
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Lassonde’s comments came amid confirmation that Tether, the issuer of the world’s largest stablecoin, acquired a 31.9% stake in Canadian gold royalty company Elemental Altus Royalties Corp. for $89.2 million in June. The investment gives Tether potential control of up to 47.7% of the company through additional option agreements.
Tether CEO Paolo Ardoino said the investment reflects the company’s “confidence in the fundamentals of gold and its critical role in financial markets.” The move is part of Tether’s “dual pillar strategy” alongside its holdings of over 100,000 Bitcoin worth approximately $10.7 billion.
Data suggests Lassonde’s prediction may materialize. Blockchain analytics show surging activity in gold-backed digital tokens, with trading volumes jumping 77% month-over-month and new token creation worth more than $80 million, according to rwa.xyz.
Corporate cryptocurrency investments have also accelerated, with Architect Partners reporting that nearly 100 companies have collectively raised $43 billion for digital asset purchases since June — exceeding traditional IPO activity by more than twofold.
Regulatory experts warn that upcoming stablecoin frameworks in the US and EU may force companies like Tether to exclude commodities from their reserves, potentially requiring them to liquidate gold holdings to maintain compliance. Analysts remain divided on Tether’s diversification strategy, with some expressing concern about “compliance complications that may arise, potentially stirring market perception and jeopardizing stability.”
Gold performed strongly in 2025, climbing 26% since early in the year to reach record levels above $3,350 per ounce. The World Gold Council reported that total gold demand in the first quarter reached 1,206 tonnes, the strongest first quarter since 2016. Central bank purchases, while moderating from record levels, continue to support demand at 166 tonnes in the second quarter.
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