Tether has recently invested in a new business that has gained attention and attracted financial backing.
According to recent filings, between July 29 and August 16 of this year, Tether’s investment division purchased shares worth approximately $102 million in South America-based agricultural giant Adecoagro SA (AGRO), traded on the Nasdaq stock exchange.
This represents 9.8% of Adecoagro’s total outstanding shares, making Tether the company’s third-largest shareholder.
Adecoagro, which is the largest producer of milk and rice in Argentina according to local news site Ámbito, has a market capitalization of just under $1.2 billion.
The company also operates in Brazil, where it farms and processes sugar cane and renewable energy, and in Argentina and Uruguay, where it crops such as soybeans and corn.
A spokesperson for Tether stated that this investment is part of the company’s strategy to diversify its profits into various investment opportunities.
