Tether has increased its stake in Juventus Football Club to more than 10%, strengthening its position as one of the largest shareholders in the Italian club.
The latest move gives Tether Investments S.A. de C.V. 6.18% of voting rights, up from the 8.2% equity stake it disclosed in February. Juventus shares were trading up 2.7% to €3.20 ($3.65) following the update.
Tether CEO Paolo Ardoino said the company sees long-term value in the club both on and off the field, particularly in its potential to adopt new tech for fan engagement and digital expansion. He also confirmed Tether may take part in future funding rounds to help stabilize the club’s finances and protect its current holding from dilution.
Founded in 1897, Juventus is among Europe’s most decorated clubs, with 36 domestic league titles.
Tether, known for issuing the USDT stablecoin, posted $13 billion in profit last year and has recently put money into areas like bitcoin mining, artificial intelligence, and agriculture.
In February, Tether made an offer to acquire a majority stake in South American agro-industrial company Adecoagro.
Adecoagro, which is listed on the Nasdaq under the ticker AGRO, is Argentina’s leading producer of milk and rice. The company also engages in sugarcane farming and renewable energy in Brazil, as well as planting crops like soybeans and corn in Argentina and Uruguay.
Tether, which is already a 19.4% shareholder in Adecoagro, proposed to buy out outstanding common shares at $12.41 each.
These investments beyond crypto come amid ongoing scrutiny of Tether’s financial reserves, particularly after JPMorgan analysts suggested that the company may need to sell some of its Bitcoin holdings to comply with U.S. stablecoin regulations.
Tether dismissed the concerns, stating that it holds over $20 billion in liquid assets and generates $1.2 billion in quarterly profits from U.S. Treasury investments.
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