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Juventus wins and soars on the stock market, but the credit goes to Tether
By Davide Grammatica
After their victory in the Italian derby, Juventus soars on the stock market with a +8.2% increase in 24 hours, but the real boost comes from Tether, which warms fans and investors alike
The effects of Tether's move
The recent surge of Juventus FC on the stock market has attracted the attention of traders and investors. For some fans this could be the effect of the recent victory over Inter on the last day of the league season but, as already reported last week, this seems to be the effect of the latest move by Tether, who recently became a minority shareholder in the company.
The investment of the issuer of USDT has allowed the company to obtain a share of more than 5% in the football club, and this seems to have interested several investors.
After all, Tether is one of the most important crypto companies in the world, and its moves certainly do not go unnoticed. Furthermore, its diversification strategy has only been in place for a relatively short time, and it is interesting for traders to see what choices the issuer makes.
With a capitalization of $140 billion, USDT has led Tether to $13.7 billion in profits last year, partly reinvested in the AI, mining and biotechnology sectors.
Devasini pushes Juventus on the stock market
“In line with our strategic investment in Juventus, Tether aims to be a pioneer in combining new technologies such as digital assets, artificial intelligence and biotechnology with the sports industry,” said Paolo Ardoino, CEO of Tether, in an official statement. ”We will explore avenues for innovative collaborations to revolutionize the global sports landscape.”
The CEO of Tether and the founder Giancarlo Devasini (according to Forbes Real Time Billionaires, the fourth richest man in Italy) are also, as reported in an interview with Corriere, fans of the team, and therefore the “heart” of the fan has partly influenced this choice.
Exor, the main shareholder of Juventus, still controls 64.8% of the capital of the “bianconeri” club, and therefore no managerial balance in the company is compromised, but much seems to have changed on the stock market, where the bearish trend that began last November seems to have been reversed.
