Tether's (USDT) CEO Paolo Ardoino clearly stated that he has no intention of pursuing an initial public offering (IPO). This statement is particularly noteworthy as it comes just days after Circle's listing on the New York Stock Exchange (NYSE).
On June 7th, Ardoino announced on his social media that there is "no reason to go public". He referenced the potential corporate value of Tether mentioned by Artemis CEO Jon Ma. According to Ma, if Tether were to go public, its market capitalization could reach $515 billion (approximately 716.85 trillion won), ranking 19th globally, potentially even higher than Costco ($COST) or Coca-Cola ($KO).
Ardoino responded that "$515 billion is a 'beautiful number' but might even be an underestimation" and added that "considering the increasing Bitcoin (BTC) and gold reserves, it could be even higher". While maintaining humility, he emphasized the company's intrinsic value.
Bitcoin supporters Anthony Pompliano and Jack Mallers have also projected that Tether could achieve a market capitalization of $1 trillion (approximately 1,390 trillion won) in the future. They analyze that despite being unlisted, Tether already has the capabilities to surpass global corporations in terms of asset size and profitability.
While Circle strengthens its relationship with regulatory authorities by entering the stock market, Tether remains committed to staying unlisted. This strategy appears to reflect their intention to maintain autonomous operating principles within the DeFi ecosystem while expanding their Bitcoin and gold-centered reserve assets.
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