Tether Acquires 31.9% Stake in Elemental Altus for $121.6 Million
Tether Holdings Ltd has acquired a significant stake in Elemental Altus, a Canada-based gold royalty company.
This acquisition supports Tether's strategy to integrate stable assets such as gold and Bitcoin into its ecosystem.
Transaction Details
- Tether purchased 78,421,780 shares of Elemental Altus for $121.6 million.
- Ownership increased from 1.8% to 31.9% of total shares.
- The transaction was completed offshore through a private agreement.
- Tether signed an option to buy an additional 34,444,580 shares, subject to approval and conditions.
Tether's Financial Strategy
- Tether is committed to investing in real assets to back its financial systems.
- In Q1 2025, Tether acquired 8,888 BTC at a price of $81,314.21 each, increasing its Bitcoin reserves to over 100,000 BTC.
- Tether also holds approximately 80 tons of physical gold and Tether Gold (XAUT), a token backed by gold.
Recently, Whale Alert reported the minting of 1 billion USDT on the Tron network amidst rising Bitcoin prices, currently priced at $107,291.90.