Tether’s investment arm has acquired a 33.7% stake in Elemental Altus, a publicly-listed precious metals company. The purchase involved 78,421,780 common shares from La Mancha Investments. Tether, issuer of the world’s largest stablecoin USDT with a $155 billion market cap, aims to diversify the assets backing its token. Following the announcement, Elemental’s shares surged nearly 23% to 1.77 Canadian dollars ($1.30). By Wednesday, the shares closed at 1.53 Canadian dollars, a 6.25% increase from pre-investment levels. Tether’s stake in Elemental is currently valued at nearly $88 million. The company also holds over 100,000 BTC, worth $10.7 billion, as part of its “dual pillar strategy” to increase exposure to gold.
Moby Media
@mobymedia
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2h JUST IN
Tether acquires a 32% stake in gold royalty firm Elemental Altus as part of its strategy to integrate gold and Bitcoin into its ecosystem.
Paolo Ardoino
@paoloardoino
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Apr 22 Tether Gold XAUt will become the biggest tokenized gold market in the world.
Gold price is going up, as a consequence of the world trying to hedge Chaos. Central banks are loading up hundreds of billions in gold as part of their reserves.
XAUt opens up the digital gold
Marzell
@MarzellCrypto
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2h Tether takes a 32% stake in Elemental Altus.
Big bet on Bitcoin + Gold-backed systems.
The shift is real.
Noi Exchange
@noiexchange
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2h JUST IN: Tether acquires 32% stake in gold royalty firm Elemental Altus as it doubles down on Bitcoin & gold-backed financial infrastructure.
Stay with NOI, where traditional assets meet next-gen crypto innovation.
#NOIExchange #Tether #Bitcoin #Gold #CryptoNews
Katusa Research
@KatusaResearch
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Jun 4 Wall Street Just Placed a Massive Gold Bet—And Retail Has No Idea
$75 BILLION just flooded into gold funds—that’s 3X higher than any crisis before.
When institutional money moves this fast, this violently, they’re not speculating.
They’re positioning.
BecauseBitcoin.com
@BecauseBitcoin
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2h [TETHER] Tether Acquires Strategic Stake in Elemental Altus to Deepen Push Into Gold and Hard Asset-Backed Financial Infrastructure
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