Crypto Giant Tether Becomes Second Largest Shareholder in Juventus
In a unique intersection of the digital finance world and traditional sports, Tether, the world's largest stablecoin issuer, USDT, now holds the position of the second largest shareholder in one of the most prestigious football clubs in Italy, Juventus Football Club.
The crypto giant is reported to own 10.7% of shares in this Turin-based club. This strategic investment is estimated to be worth over €128 million (approximately $149 million), making it one of the most significant investments by a digital asset company into a legacy sports entity.
Tether's position places it just behind the majority shareholder and main controlling entity of the club, Exor N.V., an investment company owned by the Agnelli family, which is the industrial dynasty behind the establishment of the automotive giant Fiat.
Tether's shareholding highlights several important points. First, it demonstrates Tether's financial strength and aggressive, diversified investment strategy, which extends far beyond merely managing reserves for their stablecoin. Second, it marks a significant step in bridging the gap between the modern crypto ecosystem and the established world of professional sports.
This investment positions Tether as an influential player behind the scenes of one of the most recognized sports brands in the world. How a crypto company will interact with and possibly influence the direction of a historic football club will be an intriguing narrative that continues to be observed by the financial and sports worlds.