Mentioned:
MTA -8.77% GROY -8.84%
Tether is on a buying spree of precious metal streaming companies. Which is exactly why they’ve just taken a large position in a new company on the New York Stock Exchange.
What’s happening:
- Tether has purchased a 5.5% equity stake in Metalla Royalty & Streaming (NYSE: MTA)
Why it matters:
- Tether has been building out a large portfolio of publicly traded gold royalty and streaming companies lately, as well as deepening their bet on their Tether Gold XAUT token which is backed by physical gold held in custody
Going deeper:
- Metalla Royalty & Streaming owns more than 100 different streaming assets that are operated by mining companies throughout North America, Australia and South America and include large scale projects focused on gold, silver and copper
- Tether also just recently purchased an 8.1% equity stake in Gold Royalty Corp (NYSE: GROY) through buying shares in the open market
