Tether’s Bold Move: 21% Stake in Bitdeer and Other Shenanigans!

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What to know:

  • Tether, the grand maestro of the USDT stablecoin, has decided to up its ante in the bitcoin mining game, snagging a 21% stake in Bitdeer. 🎩💰
  • This little acquisition was funded with Tether’s working capital, following a rather generous initial investment of $100 million back in May 2024, as revealed in an SEC filing. Because why not? 🤷‍♂️
  • In a classic case of “let’s diversify our portfolio,” Tether is not just stopping at Bitdeer; they’re also eyeing Juventus FC and making a play for a majority stake in Adecoagro. Talk about a shopping spree! 🛒⚽

So, Tether, the issuer of the USDT stablecoin, has decided to play the long game, increasing its holdings in the bitcoin miner Bitdeer (BTDR) after dipping its toes in the water nearly a year ago. It’s like watching a kid grow up, but with more money involved. 💸

The company financed this latest acquisition with its working capital, now proudly owning 21% of Bitdeer, according to a filing with the Securities and Exchange Commission. Because who doesn’t love a good SEC filing? 📄

Initially, Tether made its move last May, investing a cool $100 million for 18.59 million Class A shares, with an option to buy 5 million more at $10 each. It’s like a buffet, but for stocks! 🍽️

With record profits hitting a staggering $13 billion last year, Tether is on a roll, building a portfolio that would make any investor weep with envy. They’ve even snagged a stake in Italy’s Juventus FC and are bidding for a majority stake in Latin American agricultural commodities producer Adecoagro. Who knew crypto could be so… worldly? 🌍

As for Bitdeer’s stock? Well, it’s just sitting there, unchanged in pre-market trading on Nasdaq, trading at a steady $10.56. Just like my hopes and dreams! 😂

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2025-03-18 12:24