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The company behind the world’s most popular stablecoin has made a big new bet. And it’s on a publicly traded agriculture company.
What’s happening:
- Tether has invested $100M USD into agricultural giant Adecoagro (NYSE: AGRO) through purchasing shares on the open market
Why it matters:
- Adecoagro is the single largest producer of dairy in Argentina and is also one of the largest cultivators of soybean and corn in both Argentina and Uruguay
- This is the first time that Tether has ever invested into an agriculture or food technology company
By the numbers:
- The current market capitalization of Adecoagro is $1.1B USD, which gives Tether approximately 9.8% ownership of the entire company
- Adecoagro owns 213.5K hectares of farmland across Argentina, Brazil and Uruguay
Going deeper:
- Tether has been generating record breaking revenue recently and has been turning their extra cash into new venture capital bets which have spanned from acquiring GPUs for artificial intelligence cloud computing to Bitcoin mining to neurotech startups
