The issuer of the stablecoin USDT has announced the acquisition of a minority stake in Italian football club Juventus de Turin. Following the announcement, Juventus shares jumped by 2.5% on the Italian stock exchange, while the club’s fan token rose by almost 200% in a matter of minutes.
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Juventus partly owned by Tether
Nicknamed the “Old Lady”, the Juventus of Turin is one of the most prestigious soccer clubs in Italy and Europe. 36 times Italian champions and 2 times European champions, the club attracts legendary athletes such as the five-time gold ball winner Cristiano Ronaldo. La Juventus Turin also attracts crypto companies.
Indeed, the issuer of the stablecoin USDT has announced that it had acquired a minority stake in Juventus. According to the CEO of Tether, Paolo Ardoino, the acquisition is a confirmation of his company’s vision to merge innovative technologies with the sports industry.
In line with our strategic investment in Juve, Tether will pioneer the fusion of new technologies, such as digital assets, AI and biotechnology, with the established sports industry to drive change on a global scale.
Paolo Ardoino, CEO of Tether
Rapid impact on the market
Tether’s announcement of its acquisition of a stake in Juventus had a knock-on effect on the financial assets attached to the Italian club. Juventus FC shares immediately rose by 2.5% on the Italian stock exchange following the news.
Juventus fan token Juventus Turin also rose sharply. Following the announcement of the acquisition by Tether, JUV went from $1 to $2.33 on coinmarketcap.
Crypto is a major ally of the soccer industry. Legendary footballers such as Messi or Ronaldo campaign for exchanges. Soccer clubs of the world’s elite are also committed to this approach.
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.
