In a recent development within the crypto market, Tether's CEO Paolo Ardoino firmly stated there is no intention for the stablecoin issuer to pursue an initial public offering (IPO).
Ardoino emphasized that Tether’s focus remains on expanding its treasury, which includes significant holdings in bitcoin and gold, rather than seeking a traditional .
This stance comes shortly after rival Circle debuted on the New York Stock , with its shares soaring 167% during the first trading day, setting a high benchmark for stablecoin companies.
The valuation speculation surrounding Tether reached a peak when Artemis CEO Jon Ma claimed that if Tether were to go public, it could be valued at approximately $515 billion, making it the 19th largest company globally.
Ardoino acknowledged this figure but argued that it might actually be too conservative given the company's current assets.
“$515 billion is a ‘beautiful number,’ but not high enough,” Ardoino remarked, highlighting the company’s increasing bitcoin and gold reserves.
Industry experts like Anthony Pompliano and Jack Mallers have even suggested that Tether could eventually reach a $1 trillion valuation.
“Maybe a bit bearish considering our current (and increasing) + gold treasury, yet I’m very humbled,” Ardoino added.
Tether’s USDT remains the third-largest cryptocurrency by market cap, valued at approximately $154.83 billion, reinforcing its dominant position in crypto payments and liquidity markets.
Recently, Tether announced acquiring a majority stake in Twenty One Capital, founded by Strike’s Jack Mallers, which has become one of the top bitcoin corporate holders worldwide.
On June 3, Tether moved about 37,229 bitcoin—worth roughly $3.9 billion—to addresses linked with its new bitcoin-native financial platform.
These moves underscore Tether's strategic focus on building a resilient treasury backed by digital assets rather than pursuing traditional corporate growth paths like an IPO.
As the ecosystem continues to evolve, Tether’s strategic reserve accumulation and refusal to go public highlight a different approach to scaling within the crypto financial landscape.
For investors and analysts alike, this signals a potential shift towards asset-backed stability over traditional valuation metrics in crypto markets.
Understanding these developments is crucial as Tether maintains its influence in the broader market amid ongoing debates over valuation and transparency in crypto assets.
