What to know:
- With the audacious flair of a tightrope walker in a circus, Tether, the issuer of the prodigious $144 billion stablecoin USDT, has escalated its stake in the Latin American agricultural heavyweight Adecoagro.
- In a move that would make even the most seasoned investor raise an eyebrow, the $12.41 per share offer (yes, it’s one of those “are you sure?” purchases) will elevate Tether’s grip on Adecoagro from 51% to a staggering 70%!
- But wait, there’s more! Tether isn’t just putting its eggs in one basket; it’s also sprawling into the glitzy world of entertainment by snagging a 30.4% stake in the Italian media maverick Be Water for a cool 10 million euros. Talk about diversification!
As the sun rose on yet another day of dollar signs and dollar bills, Tether, purveyor of the weighty USDT, chose to bolster its investment in Adecoagro (also known as AGRO to its chums).
According to an announcement that surely had stock market clerks jumping about in glee on Thursday, the share bid of $12.41, wrapped in a few conditions that might make a Rubik’s Cube seem simple, will hoist Tether’s stake into the heavens from 51% to a blissful 70%!
In a delightful twist that could only be described as “Oh, what a lovely surprise!” AGRO’s shares danced up over 7% to reach the majestic height of $11.95 in pre-market trading after the news broke—just like a well-rehearsed ballet!
Adecoagro’s pursuits are as diverse as a buffet line at a family reunion, focusing on everything from sugar and ethanol to the rather unglamorous business of dairy and crops across Argentina, Brazil, and Uruguay. They possess a whopping 210,400 hectares of farmland, which, if counted, could probably be mistaken for a small country!
The company’s market cap gently nudges just under $1.12 billion, not too shabby for a day’s work.
In a move that seems to echo the age-old adage of “land is a good investment,” Tether perceives its Adecoagro venture as a snazzy addition to its cache of bitcoin and gold. Perhaps they’re in the market for a lovely farmhouse next?
“Our investment aligns with Tether’s broader strategy to back infrastructure, technology, and businesses that advance economic freedom and resilience,” chirped Tether CEO Paolo Ardoino, likely while sporting a dapper suit and sipping an espresso, during Thursday’s eagerly awaited announcement.
But Tether’s ambitions don’t stop at the barn door! They’re also riding the wave of entertainment, procuring a 30.4% slice of the Italian media pie known as Be Water for a mere 10 million euros (worth approximately an arm, a leg, and possibly a small fortune). Such entrepreneurial sprightliness!
This dazzling investment follows Tether’s previous engagement last month, wherein they cheekily acquired a minority stake in Ardoino’s beloved Juventus FC—the pride of Italian football—because who wouldn’t want a piece of that dazzling football action?
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2025-03-27 16:11