Overview
- Blockchain analytics firm Lookonchain attributed nine new wallets to Voorhees that bought 1,382 PAX Gold (PAXG) using $6.81 million in USDC at about $4,926 per token.
- The transactions show no related Bitcoin sales, indicating the purchase likely drew on fresh stablecoin funds rather than liquidating BTC.
- PAX Gold is backed by vaulted physical bullion and allows investors to hold gold exposure with blockchain-based liquidity and transferability.
- The activity drew discussion on X about hedging versus a strategic shift and highlighted growing interest in tokenized real‑world assets.
- Separate Jefferies analysis estimated Tether now holds roughly 148 tonnes of gold worth about $23 billion as prices hover near record highs above $5,100 an ounce.