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Just read something interesting this morning in the Italian press. Giancarlo Devasini, the founder of Tether, has just entered the ownership of Juventus with a 5% stake. Yes, you read that right – the guy behind the world's most used stablecoin is now investing in football. It’s quite a symbolic shift.
For those who don’t know him, Devasini is a former plastic surgeon who has become one of the major figures in crypto. Through Tether, his company based in El Salvador, he controls a financial empire with $141 billion in revenue and over 350 million users. The acquisition of Juventus amounts to about 47 million euros, which for him is almost pocket change – the guy is ranked the fourth wealthiest person in Italy with a net worth of over $9 billion.
What strikes me is Devasini’s overall strategy right now. Tether is accumulating U.S. bonds, investing $600 million in convertible notes with Howard Lutnick (former Secretary of Commerce), and pouring $775 million into Rumble. Meanwhile, he lives discreetly in Lugano, rents a small three-room apartment for €1,400 a month, and avoids interviews. Total low profile.
But here’s the thing: Giancarlo Devasini symbolically returns to Turin, his hometown, with Juventus as his new playground. It’s an interesting move – crypto entering traditional football. Stay tuned.