Tether Boosts Juventus Stake, Fan Tokens Surge 10%
2min read Tether, the issuer of the world's largest stablecoin, has increased its stake in Juventus Football Club to 10.12% of issued shares, which gives it 6.18% of the club’s voting rights. This move has triggered a surge in the value of Juventus' fan tokens, which are digital assets that allow fans to engage with the club and access exclusive content and experiences. Following the news, Juventus’s crypto fan token, JUV, jumped over 10% to a two-month high.
Tether's investment in Juventus is seen as a long-term bet on innovation and collaboration. The company aims to tighten its ties with the Turin-based team, one of Italy’s most storied football clubs. Tether CEO Paolo Ardoino described the investment as a commitment to innovation and long-term collaboration. He emphasized Juventus’s potential to lead both in sport and digital transformation. Tether has expressed interest in participating in future equity rounds to avoid dilution and strengthen the club’s financial position. The company also aims to work closely with Juventus leadership to shape the club’s future, including the possible creation of an integrated board of directors.
Tether’s growing interest in sports reflects a broader pivot toward sectors outside the crypto space. Over the past year, the company has made several moves into traditional industries. Tether acquired a 30% stake in media startup Be Water in March through an $11 million investment. Earlier, the firm submitted a bid to take full ownership of adecoagro, a major agricultural business in South America. However, even as it expands beyond digital assets, Tether remains firmly rooted in crypto. The company recently backed Fizen, a crypto payments app, and joined a consortium to launch 21 Capital, a Bitcoin-focused investment fund. Meanwhile, Tether’s flagship USDT stablecoin continues to dominate the market, serving over 400 million users and boasting a market cap exceeding $145 billion.
Tether's investment in Juventus is part of a broader trend of blockchain companies investing in traditional industries, as they seek to leverage the technology's potential to disrupt and transform existing business models. The surge in the value of Juventus' fan tokens following Tether's increased stake is a positive development for the club and its fans, as it demonstrates the potential of blockchain technology to create new opportunities for engagement and interaction. The move by Tether is also a sign of the growing interest in blockchain technology and its potential to revolutionize the sports industry. The increased stake in Juventus is seen as a vote of confidence in the club's future prospects and its strategy of embracing blockchain technology. Juventus has been at the forefront of the sports industry's adoption of blockchain, having launched its own fan token in 2019. The club has since used the tokens to engage with fans, offer exclusive experiences, and even allow fans to vote on club decisions.
