Stablecoin issuer Tether has increased its stake in Juventus Football Club to 10.12% of issued shares, giving it 6.18% of the club’s voting rights. This news caused Juventus’s fan token, JUV, to surge over 10% to a two-month high of $1.08, with other fan tokens linked to clubs like Trabzonspor, Napoli, Galatasaray, and Barcelona also seeing gains.
Tether sees this investment as a way to strengthen its partnership with Juventus, a prestigious football club based in Turin, Italy. The company already held an 8.2% stake in the team and CEO Paolo Ardoino views this move as a long-term investment in innovation and collaboration, allowing Juventus to lead both on the field and in digital transformation efforts. Tether has expressed interest in participating in future equity rounds and working closely with Juventus leadership to shape the club’s future.
In addition to its sports investments, Tether has been diversifying into traditional industries over the past year. The company acquired a 30% stake in media startup Be Water and submitted a bid to take full ownership of major agricultural business Adecoagro in South America. However, Tether remains firmly rooted in the crypto space, backing projects like the Fizen crypto payments app and participating in a $3 billion Bitcoin-focused investment fund with Cantor Fitzgerald, Bitfinex, and SoftBank.
Despite expanding into other sectors, Tether’s flagship USDT stablecoin continues to dominate the market, serving over 400 million users and boasting a market cap exceeding $145 billion. This stablecoin’s popularity and widespread use have solidified Tether’s position in the crypto industry while allowing the company to venture into new opportunities and partnerships, such as its increased stake in Juventus Football Club.
