TL;DR
- Tether has acquired a minority stake in Juventus, marking its first entry into professional sports.
- The investment is part of its diversification strategy, which includes areas such as AI, Bitcoin mining, and biotechnology.
- Juventus will leverage blockchain technology to enhance fan experience and management.
Tether has acquired a minority stake in the renowned Italian football club Juventus. This investment marks the company’s first foray into the professional sports market.
Although the financial details of the acquisition have not been disclosed, it has been confirmed that the purchase is part of Tether’s diversification strategy, which aims to expand its portfolio beyond its core business centered around the USDT stablecoin.
With a market capitalization exceeding $140 billion, USDT is the largest stablecoin and one of the most widely used cryptocurrencies globally, with more than 400 million users, particularly in emerging markets.
The investment in Juventus adds to Tether’s initiatives, which have already ventured into sectors like artificial intelligence, Bitcoin mining, and biotechnology. With this new business, the company seeks to merge its digital assets, payment expertise, and emerging technologies with the sports industry.
Tether Aims to Revolutionize the Sports Market with Blockchain Technology
Paolo Ardoino, CEO of Tether, emphasized the importance of this acquisition, stating that the company aims to be a pioneer in integrating new technologies, such as digital assets and artificial intelligence, with professional sports. The goal is to create synergies that could revolutionize how transactions, marketing, and fan engagement are managed through advanced technological solutions.
In 2023, the company had already entered the sports sector by partnering with the Swiss club FC Lugano, sponsoring their team kit through the Plan ₿ initiative, a collaboration with the City of Lugano. Now, with its stake in Juventus, Tether aims to deepen its presence in sports and integrate the use of blockchain and stablecoins into traditional sectors.
Juventus, one of the most decorated and iconic clubs worldwide, will also benefit from this investment by having the opportunity to explore new technologies that could revolutionize the fan experience at the club level. Founded in 1897, Juventus has won 36 league titles and is recognized for its success both nationally and internationally
