Gold and Bitcoin Are Hedges, But Why Is a Stablecoin Company Buying Farmland?

Tether, the issuer of the world’s largest stablecoin, has spent $600 million buying majority control of a South American farming conglomerate, adding land to a reserve strategy that already includes billions in gold and Bitcoin (BTC).

The move follows a clean audit from KPMG, one of the Big Four accounting firms. However, Tether’s own reserve buffer has since fallen 40%, raising questions about its scarce-asset hedges.

Farmland Joins Gold and Bitcoin in the Reserve Mix Tether acquired roughly 70% of Adecoagro, a Nasdaq-listed agribusiness farming more than 200,000 hectares across Argentina, Brazil, and Uruguay.

The deal grew to about $600 million in September 2025, and followed an initial $100 million stake bought in 2024. Analysts have described the acquisitions as diversification, following the same logic behind Tether’s gold and Bitcoin holdings.