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Tether Invests $100M in Agriculture Amid Stablecoin Rivalry
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This marks a significant shift for Tether, which has primarily focused its investments on emerging technologies, including artificial intelligence, Bitcoin mining, and digital education initiatives.
The acquisition grants Tether a 9.8% stake in Adecoagro, equating to over 10 million shares.
Tether’s $100M Investment Expands Beyond Digital Finance
Adecoagro, founded in 2002, is a major player in Latin America’s agricultural sector. It is Argentina’s leading milk producer, with a processing capacity of 550,000 liters per day at its Buenos Aires facility. The company has also expanded into Brazil, where it operates in the sugar, ethanol, and energy industries.
Source: X
Tether used cash from its working capital for the investment, according to a filing with the U.S. Securities and Exchange Commission. This strategic move represents Tether’s diversification beyond digital finance and blockchain-related sectors as it seeks to broaden its investment portfolio.
More About Tether & Adecoagro
Tether’s entrance into the agricultural industry comes at a time of growing competition in the stablecoin market. Stablecoins, which are digital assets pegged to traditional currencies like the U.S. dollar, have become crucial in the cryptocurrency space for providing liquidity and stability. Tether remains the largest stablecoin by market capitalization, but rivals such as USDC and BUSD are rapidly gaining traction.
Source: X
By investing in a real-world asset like Adecoagro, Tether is signaling its intent to expand its influence and diversify its revenue streams. This move may also appeal to investors who seek more tangible assets in an increasingly volatile crypto market.
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September 9, 2024 at 06:07AM
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