Gold Diggers: Tether’s Daring Dance with Elemental Altus! 💰✨

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What to know:

  • In a most audacious move, Tether’s investment arm has waltzed into a minority stake in Elemental Altus, a publicly-listed treasure trove of precious metals.
  • Our dear CEO, Paolo Ardoino, has proclaimed that this investment, which sees Tether clutching a 33.7% stake in Elemental, is a testament to their “confidence in the fundamentals of gold.” Ah, the fundamentals! How delightfully vague! 💎
  • Tether has whimsically dubbed its foray into gold as a “dual pillar strategy,” as if they were building a grand palace of wealth, alongside their hoard of over 100,000 BTC (a mere $10.7 billion). 🏰

Ah, the stablecoin issuer Tether, in a fit of financial fancy, has decided to dip its toes into the glittering waters of Elemental Altus (ELE), a publicly-listed gem of a company.

With a market capitalization that could make even Midas blush—$155 billion, mind you—Tether Investments is on a quest to diversify the assets that back its illustrious stablecoin, USDT. They are expanding into the realm of tangible assets and precious metals, as announced on a rather splendid Tuesday.

In a transaction that sounds like a plot twist from a Victorian novel, Tether acquired 78,421,780 common shares in Elemental from La Mancha Investments, a Luxembourg-based mining investment firm. One can only imagine the clinking of coins as the deal was sealed!

Following this announcement, Elemental’s Toronto-listed shares soared nearly 23% to 1.77 Canadian dollars ($1.30). They closed at 1.53 Canadian dollars on Wednesday, a delightful 6.25% higher than before Tether’s investment. At this moment, Tether’s stake is worth a staggering $88 million. Oh, the sweet scent of profit! 💸

Paolo Ardoino, in his infinite wisdom, stated that this investment reflects Tether’s “confidence in the fundamentals of gold and its critical role in financial markets.” How very reassuring! One can almost hear the gold coins jingling in agreement.

“Elemental’s royalty model provides diversified exposure to gold production around the world,” he added, aligning strategically with Tether Gold and their grand vision for future commodity-backed digital asset infrastructure. A vision as grand as a Shakespearean play! 🎭

As the specter of regulation looms over stablecoins in the U.S., Tether and its ilk are preparing for the inevitable compliance dance. It has been suggested by the ever-watchful JPMorgan that Tether may need to part with some of its BTC to comply with the proposed regulations. Oh, the irony of selling gold to keep the gold! 🥴

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2025-06-12 16:17