Crypto Currency Giant Tether in Search of Investment: Price Soared with Massive Bid! - Coin Bulletin

Tether, transitioning from the crypto sector to a different sector, made a $385 million offer to buy shares in the agricultural giant Adecoagro.

Tether is known as the company behind the stablecoin USDT, they went beyond the crypto sector to offer a $385 million bid to acquire a majority stake in Adecoagro, one of the leading agricultural and energy companies in South America.

The offer presented by the company on February 14 aimed to increase its current 19.4% stake to 51%. Adecoagro management began working with financial and legal advisors to evaluate this offer at the meeting held on February 16.

The move by Tether is seen as part of the company's expansion plans not only in the cryptocurrency market but also in different sectors. Tether, which announced a net profit of 13 billion dollars in 2023, wants to diversify its financial strength with such investments.

Adecoagro's shares have risen

Adecoagro, the agriculture giant, not only the largest milk producer in Argentina, but also has a sugar cane production area of 193,000 hectares in Brazil and a total agricultural land of 230,000 hectares in Argentina and Uruguay.

Following the announcement of Tether's investment offer, Adecoagro's shares rose by 8% to $10.48 on the New York Stock Exchange.

While it is not yet clear whether this offer will be accepted or not, Tether's interest in the agriculture and energy sectors signals its growth target beyond the cryptocurrency sector.

The largest stablecoin company in the cryptocurrency market had reported that it had acquired a minority stake in Juventus FC, one of Italy's long-standing football clubs.