what you are saying is wrong. tether is a company. they have multiple products. their main product is USDT that is backed by dollars. they also have a stablecoin that is backed by gold. at last, Tether, the company is buying gold because they print money and they are already overexposed to the dollar business so they are hedging it by buying gold to keep it in their balance sheet. you are confusing what they buy with their revenue with what they back their stablecoin with.