Mentioned:
GROY -8.84% ELE -0.04%
Tether keeps pouring more cash into gold exposure. And now, they have just bought a new stake in a gold royalty company on the New York Stock Exchange.
What’s happening:
- Tether has acquired an 8.1% ownership stake in Gold Royalty Corp (NYSE: GROY)
By the numbers:
- Tether purchased 13.8M common shores of Gold Royalty Corp in the open market
Why it matters:
- Tether has been making a flurry of moves focused on gold lately, including just recently launching a new company on the Nasdaq for the sole purpose of accumulating Tether Gold’s XAUT token which is backed by physical gold held in custody
Going deeper:
- Gold Royalty Corp owns more than 250 royalties and streams globally, including interests in historic mining projects such as the Canadian Malartic and Goldstrike
- This is not the first time Tether has take an equity position in a publicly traded gold royalty company, previously acquiring a 33.7% stake in Elemental Altus Royalties Corp (TSXV: ELE)
