#Tether strong bet on Gold, acquires 31.9% of Elemental Altus Royalties, is a strategic move to strengthen its Stablecoin and the digital economy
Tether invests in Gold and strengthens its crypto vision
Tether, the leading issuer of #Stablecoins #USDT and gold-backed tokens (Tether Gold, XAU₮), has taken a bold step towards diversifying its reserves by acquiring, through its investment arm Tether Investments, a 31.9% stake in Elemental Altus Royalties Corp, a Canadian company specializing in precious metals royalties.
The transaction, valued at 121.6 million CAD (89.2 million USD), involved the purchase of 78.4 million shares at 1.55 CAD per share, raising Tether's total holding to 33.7% of Elemental's shares (82.8 million shares).
According to Tether's CEO, Paolo Ardoino, this move reinforces the company's strategy to integrate real assets such as gold and Bitcoin (Tether holds more than 100,000 BTC and 97.7 tons of physical gold) to support its ecosystem, including Tether Gold (XAU₮) and future commodity-backed digital assets.
"After previous conversations with Tether, we are very pleased to officially welcome Tether as the new majority shareholder of the company," said Frederick Bell, CEO of Elemental. "Their unmatched ability to support the company in its next phase of growth is a great incentive for all shareholders and a positive factor for the gold royalty sector. Tether is one of the largest companies in the world, the largest holder of U.S. Treasury bonds, and a growing investor in the gold sector."