Tether, the cryptocurrency company behind the stablecoin of $ 140 billion USDT, said on Friday that it had invested in the Italian football club of Juventus FC (Juve).
The company’s investment branch, Tether Investments, has acquired a minority participation in the Sports Club, according to a shared press release with Coindesk. The shares of Juventus FC, which are listed on the stock exchange on the stock market, advanced 2.5% immediately after the news. The price of the club fan crypto token (Juv) jumped almost 200% in a few minutes before spreading some of the earnings, according to Coingecko data.
“In accordance with our strategic investment in Juve, Tether will be a pioneer in the merger of new technologies, such as digital assets, AI and Biotech.
The acquisition comes after Tether announced $ 13 billion in profits last year and extended beyond its stable basic activities with investments in artificial, payment and payment companies energy.
Update (February 14, 2:30 pm UTC): Add pricing of Juventus Share, Fan Token.
