Tether, the issuer of the world’s largest stablecoin, USDT, has revealed its latest investment, channeling $102 million into South American agricultural giant Adecoagro SA. The move, made between July 29 and August 16, sees Tether purchasing 9.8% of Adecoagro’s outstanding shares, making it the third-largest shareholder in the Nasdaq-listed company, according to filings.
Adecoagro, one of Argentina’s largest producers of milk and rice, also operates in sugar cane farming and renewable energy in Brazil, as well as planting crops like soybeans and corn across Argentina and Uruguay. The company currently holds a market capitalization of just under $1.2 billion.
A Tether spokesperson commented on the investment, stating it aligns with the company’s strategy to diversify its portfolio. “Tether views land as a crucial asset class, complementing its existing investments in Bitcoin and gold. Land is inherently scarce, provides long-term yield, and has historically served as a safe haven during periods of geopolitical instability,” the spokesperson said.
Tether’s recent restructuring into four divisions Tether Finance, Tether Energy, Tether Data, and Tether Edu—has emphasized strategic investments across different sectors. While it remains unclear which division handled the Adecoagro acquisition, Tether has committed to diversifying its investments in areas like agriculture, technology, and sustainable development.
“We believe that investing in land, agriculture, and related ventures is essential to our journey toward creating value for humanity through sustainable development,” Tether stated.
This investment follows Tether’s record-breaking $5.2 billion profit in the first half of 2024. The company, which recently announced plans to double its workforce by 2025, has also made investments in Taiwan-based exchange XREX and Nasdaq-listed bitcoin miner Bitdeer. CEO Paolo Ardoino highlighted Tether’s focus on expanding its development, investment, and compliance teams as it continues to grow its global footprint.
