The issuer of the largest stablecoin by market cap just acquired significant holdings with a gold-focused royalty company listed in Canada.
In a statement, Elemental Altus says that Tether just completed the purchase of 78,421,780 common shares at a price of C$1.55, or around $1.14 per share, for a total of C$125,553,759, or about $89 million.
The acquisition represents approximately 31.9% of the precious metals royalty firm’s issued and outstanding common shares.
Tether already owns 4,360,511 shares in Elemental Altus, which brings the USDT issuer’s aggregate common shares holdings to 82,782,291. This represents approximately 33.7% of the Canadian firm’s issued and outstanding shares.
Elemental Altus CEO and director Frederick Bell says Tether is now one of the company’s leading investors.
“Building on previous discussions with Tether, we are very pleased to officially welcome Tether as the Company’s new major shareholder. Their unmatched ability to support the company in its next phase of growth is exciting for all shareholders and is a positive for the gold royalty sector.”
In a separate statement, Tether CEO Paolo Ardoino says the investment reflects the company’s confidence in gold and its role in financial markets.
“Elemental’s royalty model provides diversified exposure to gold production around the world, aligning strategically with our vision for Tether Gold and future commodity-backed digital asset infrastructure.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/cosmoman
The issuer of the largest stablecoin by market cap just acquired significant holdings with a gold-focused royalty company listed in Canada.
In a statement, Elemental Altus says that Tether just completed the purchase of 78,421,780 common shares at a price of C$1.55, or around $1.14 per share, for a total of C$125,553,759, or about $89 million.
The acquisition represents approximately 31.9% of the precious metals royalty firm’s issued and outstanding common shares.
Tether already owns 4,360,511 shares in Elemental Altus, which brings the USDT issuer’s aggregate common shares holdings to 82,782,291. This represents approximately 33.7% of the Canadian firm’s issued and outstanding shares.
Elemental Altus CEO and director Frederick Bell says Tether is now one of the company’s leading investors.
“Building on previous discussions with Tether, we are very pleased to officially welcome Tether as the Company’s new major shareholder. Their unmatched ability to support the company in its next phase of growth is exciting for all shareholders and is a positive for the gold royalty sector.”
In a separate statement, Tether CEO Paolo Ardoino says the investment reflects the company’s confidence in gold and its role in financial markets.
“Elemental’s royalty model provides diversified exposure to gold production around the world, aligning strategically with our vision for Tether Gold and future commodity-backed digital asset infrastructure.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/cosmoman
