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Tether Makes $385M Bid for South American Farming Giant Days After Juventus Purchase

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Tether—renown stablecoin issuer has made a bold move to diversify its portfolio, offering $385 million for a majority stake in Adecoagro, a major South American agribusiness. The deal, disclosed in a regulatory filing on Tuesday, marks another unconventional investment for the company best known for its dominance in the stablecoin market with USDT.

Expanding Beyond Stablecoins

While Tether’s core business revolves around digital assets, it has been actively branching out into new industries. The Adecoagro acquisition would grant Tether control over vast tracts of farmland, food production operations, and renewable energy projects generating over 1 million megawatts of electricity.

Tether’s diversification strategy is fueled by its impressive $13 billion in profits from USDT reserves. Its latest moves suggest a focus on agriculture, food sustainability, and renewable energy—sectors far removed from its cryptocurrency origins but aligned with long-term economic stability.

A Wave of Strategic Investments

The Adecoagro bid follows a string of high-profile deals by Tether. Earlier this month, the company acquired a minority stake in Juventus, the Italian football giant. In December, it invested $775 million in Rumble, a video platform known for its right-wing user base. Last April, Tether put $200 million into a company developing brain-computer interface technology.

With a 20.2% existing stake in Adecoagro, Tether’s latest offer includes a 13% premium on the company’s current stock price. Shares of the Luxembourg-based agribusiness surged over 12% following the announcement.

However, Tether acknowledged Adecoagro’s “operational challenges,” citing declining profitability and mounting debt as key concerns. In a letter accompanying its bid, Tether positioned its offer as a lifeline to shareholders looking for stability.

Tether’s CEO Paolo Ardoino has previously stated that the company is selective about its investments, prioritizing long-term sustainability. With its headquarters moving to El Salvador, Tether’s latest push into agriculture may signal a broader strategy to establish itself as a powerhouse beyond the crypto space.

Neither Tether nor Adecoagro have commented on the bid as of yet, but if successful, this acquisition could mark another significant shift in Tether’s evolving business strategy.