Tether’s investment in Canada’s Elemental Altus Royalties follows the company’s strategy to “integrate long-term, stable assets such as gold and Bitcoin in its ecosystem.”
Tether, the issuer of the world’s largest stablecoin by market capitalization, continues its buying spree with its 32% stake acquisition in Canada’s public gold royalty firm Elemental Altus Royalties.
Tether Investments on Thursday announced the acquisition of 78,421,780 common shares of Elemental (ELE) from La Mancha Investments, representing 31.9% of Elemental’s issued and outstanding shares.
The transaction, completed Tuesday, was made at a price of $1.55 Canadian dollars ($1.14) per share, according to an announcement by Elemental, costing Tether approximately $89.4 million.
