Since July, stablecoin leader Tether has quietly invested $102 million to purchase a 9.8% stake in Adecoagro (ticker: AGRO), an Argentina-based holding company with numerous operations in South America, listed on the New York Stock Exchange listed.

Tether publicly bought nearly 10% of AGRO shares

According to the documents submitted by Tether, including Tether Investments Limited, a wholly-owned subsidiary of Tether Holdings Limited, and its directors Ludovicus Jan Van der Velde and Giancarlo Devasini, since the end of July, they have purchased AGRO shares through the open market and purchased Adecoagro SA 10,048,249 The average cost of one common share is US$10.18, accounting for 9.8% of its total shares (calculated based on the total number of shares 102,461,382).

Tether also said it may adjust its holdings from time to time.

Tether: Land is also an important asset class

Adecoagro is a South American food and renewable energy production company headquartered in Argentina with operations in Brazil and Uruguay. Their operations include the production of cereals, rice, oil crops, dairy products, sugar, ethanol, coffee and cotton. Adecoagro is listed on the New York Stock Exchange and currently has a market capitalization of $1.17 billion.

According to The Block, a Tether spokesperson described the move as a step as the company seeks to use profits to diversify investment opportunities. Tether said: Tether views land as an important asset class that complements its existing investments in Bitcoin and gold. Land is inherently scarce, provides long-term returns, and has historically been a safe haven in times of geopolitical instability.

We believe that investing in land, agriculture and related businesses is critical to our journey of creating value for humanity through sustainable development.

This article Land is also an important asset. Tether spent 100 million Mg to invest in South American agricultural giant AGRO first appeared on Chain News ABMedia.