- Tether currently holds more than $10.12 billion in Juventus, which grants it a voting right of 6.18%.
- The indicated investment strengthens Tether’s connection with the team to show constant cooperation.
- Tether is on an acquisition spree in preparation for the bigger battles in sports, AI, media, and Bitcoin mining.
Tether has raised its ownership stakes in Juventus Football Club to more than 10.12 % of the issued share capital. This makes Tether the third-largest shareholder with effective voting control by holding 6.18% of the voting shares instead of 5% it had for 8.2% of the holding.
This comes as the football club, which has suffered financial woes, looks to build stable sources of revenue. The club, which has attracted €900 million in new equity in the last six years, has recorded a €200 million loss in its latest financial year. Tether’s increased stake goes beyond just monetary involvement in organizations and enters the realm of innovation, branding, and integration in line with the sporting world.
Paolo Ardoino, CEO of Tether, also issued a statement on the news, noting that it was “a commitment to innovation and long-term collaboration” rather than a short-term play.
Tether’s Multi-Sector Bet Signals a Strategic Pivot
The Juventus deal is only one of the many global expansion plans by Tether to control the more than $140 billion worth of USDT in circulation. Although originally created as a popular crypto asset backed by the U.S. Dollar, Tether has entered many conventional markets forcefully. Recent investments include artificial intelligence, biotechnology, digital media, and Bitcoin mining
In March, the company announced it had bought 8,888 BTC, which saw it hold a total of 95,721 BTC, equivalent to nearly $8.89 billion. It has also integrated with Ocean’s Bitcoin mining pool to enhance decentralization. In its latest report, Arkham Intelligence shows that, increasingly, Tether operates onchain in a highly aggressive manner, suggesting that long-term stability of the balance sheet and diverse returns is the direction it is heading in.
In media, Tether stabilized its position by investing €10 million in an Italian company called Be Water and providing $775 million to Rumble, which recently introduced the USDT wallet support. Both aim to ensure that USDT is not limited to trading platforms but across the digital ecosystem.
Collaborations Hint at New Global Financial Architecture
The Juventus tie-up comes after Tether supported another $3 billion Bitcoin-funded investment firm known as 21 Capital. This effort was initiated with Cantor Fitzgerald, Softbank, and Bitfinex, which focuses on enabling institutions to acquire Bitcoin through a $350 million convertible bond and a $200 million equity round.
By incorporating established financial institutions into its growth strategy, Tether is keen to change how stablecoins engage with the established financial sector. The decision comes amid increasing scrutiny from the regulators about the true nature of the stablecoins that act as a median for the fiat and crypto world.
However, this ownership does not seem to bother Tether to any extent. Rather, it uses its reserves to secure access and power in influential markets and sectors. The Juventus stake elevates its standing and continues its expansion in the European sports market through a kit sponsorship agreement with the Swiss side of FC Lugano under Plan ₿.
