Tether would plan to invest USD $1 billion in AI and biotechnology – DiarioBitcoin
By Hannah Perez
Tether’s CEO revealed the company’s ambition to enter the AI and biotechnology sectors with investments in these and other emerging areas in the coming year.
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- Tether seeks to deepen its efforts to venture into areas such as AI and biotechnology
- Ardoino previewed USDT investment issuer’s plans over the next year
- The company has already invested USD $2 billion in the last 2 years, he said
Tethera broadcasting company stablecoin high profile in the cryptocurrency industry, plans to strengthen its efforts to expand its business beyond digital currencies.
The company behind USDT would be planning to spend USD $1 billion to sign strategic agreements with companies in emerging sectors such as artificial intelligence (AI) and biotechnology, according to a report Bloomberg this Tuesday.
The CEO of Tether, Paolo Ardoino, would have revealed the company’s ambition to venture into fast-growing businesses in an interview for that news agency. He said that the investment plan Tether would be deployed in the next 12 months in the aforementioned sectors through its investment arm, Tether Holdings Inc.
A growing team of 15 people in the investment division is responsible for evaluating up to hundreds of proposals each month, most of them coming directly from startups, Ardoino said.
“It is about investing in technology that helps disintermediate traditional finance“, he claimed. “Less dependence on big tech companies like Google, Amazon and Microsoft“.
As operator of the stablecoin biggest in the world, Tether invests most of its capital in U.S. Treasury bills and other securities to generate billions in profits. But in addition to operating USDT, the company leverages its revenue to invest in emerging sectors such as data, AI, energy, Bitcoin mining, and biotechnology.
In April, the company announced a strategic investment of USD $200 million in Blackrock Neurotech, a biotechnology company that develops equipment for people with paralysis, loss of function and neurological disorders. More recently he said he would deploy $150 million to acquire shares of the Bitcoin miner, Bitdeer.
Ardoino assured that the strategy focuses on alternative financial infrastructure for emerging markets, artificial intelligence and biotechnology, areas in which It has already spent about $2 billion in the past two years, he said.
Other notable bets of Tether include areas such as telecommunications and an investment in Northern Dataa German crypto mining company now focused on processing AI-related data.
A recent report revealed that the USDT issuer would be strategically investing in Blackrock Neurotecha prominent rival to the neural implant company Neuralink by Elon Musk, to promote brain-computer interface (BCI) technology.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
