Tether CEO: $515B Valuation “Too Low”

Tether CEO: $515B Valuation "Too Low"

#Tether #CEO #snubs #IPO #515B #valuation #bit #bearish #OrxCash

Tether CEO Dismisses IPO Plans Amidst Valerie Speculation

Tether’s CEO, Paolo Ardoino, has stated that the company has no intention of going public, just days after rival Circle made its debut on the New York Stock Exchange (NYSE). Ardoino’s statement came on June 7, two days after Circle, which is behind the stablecoin USDC (USDC), entered the public market on June 5, with its shares climbing 167% on its first trading session on the NYSE.

Valuation Speculation and Growth Prospects

Ardoino addressed speculation surrounding the company’s valuation, which was raised by Artmesis CEO Jon Ma. Ma claimed that if Tether, which is behind the stablecoin USDT (USDT), were to go public, it would rank as the 19th largest company globally with a valuation of $515 billion, larger than multinational giants like Costco and Coca-Cola. Ardoino called the $515 billion valuation a "beautiful number" but suggested it might be too low, considering the company’s current and increasing Bitcoin (BTC) and gold treasury.

Growth and Investment

Ardoino’s statement also highlighted the company’s growth prospects, with prominent Bitcoin (BTC) advocates Anthony Pompliano and Jack Mallers suggesting that the company could one day reach a $1 trillion valuation. Tether’s USDT ranks as the third-largest cryptocurrency by market capitalization, valued at $154.83 billion at the time of publication, according to CoinMarketCap. The company’s recent move to become the majority owner of Twenty One Capital, a new Bitcoin (BTC) treasury company founded by Strike’s Jack Mallers, has also sparked interest. Twenty One has already become the world’s third-largest corporate holder of Bitcoin (BTC), behind only Strategy (formerly MicroStrategy) and mining firm MARA Holdings.

Market Context and Future Impact

The news has significant implications for the broader blockchain and cryptocurrency market. As a major player in the stablecoin market, Tether’s decision not to go public may have a ripple effect on the industry. For retail investors, this development may indicate a shift in the market’s focus towards decentralized finance (DeFi) and institutional investment in Bitcoin (BTC) and other cryptocurrencies. As the market continues to evolve, it is likely that we will see increased investment and adoption of cryptocurrencies, driven by the growth of companies like Tether and the increasing recognition of Bitcoin (BTC) as a legitimate store of value.

Key Takeaways

  • Tether’s CEO, Paolo Ardoino, has dismissed plans for an initial public offering (IPO)
  • The company’s valuation has been speculated to be around $515 billion
  • Tether’s USDT is the third-largest cryptocurrency by market capitalization, valued at $154.83 billion
  • The company has become the majority owner of Twenty One Capital, a new Bitcoin (BTC) treasury company
  • The news has significant implications for the broader cryptocurrency market and retail investors.

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