TechFlow news — On September 9, according to The Block, Nasdaq public filings show that stablecoin issuer Tether invested approximately $102 million through its investment arm between July 29 and August 16, 2024, to acquire a 9.8% stake in South American agricultural giant Adecoagro SA (Nasdaq: AGRO), making it the company’s third-largest shareholder.
Adecoagro is Argentina’s largest producer of milk and rice, operates sugarcane and renewable energy businesses in Brazil, and grows soybeans, corn, and other crops in Argentina and Uruguay. At the time of publication, Adecoagro has a market capitalization of approximately $1.2 billion. A Tether spokesperson said the investment is part of the company’s strategy to diversify its profits. "Tether views land as a key asset class that complements its existing investments in bitcoin and gold. Land is scarce, offers long-term returns, and has historically served as a safe haven during times of geopolitical instability."
