Tether, the massive stablecoin company, isn’t going public anytime soon, says its CEO. Even though one analyst estimates Tether’s worth at a whopping $515 billion – enough to make it a top-20 global company – CEO Paolo Ardoino says an IPO isn’t necessary.
A $515 Billion Valuation?
Ardoino acknowledged the impressive $515 billion valuation estimate, calling it “a beautiful number,” but he believes it might even be a little low considering Tether’s growing Bitcoin and gold reserves. He expressed excitement for the company’s future growth.
No Need for an IPO
Despite the recent successful IPO of Circle, the issuer of USDC (another major stablecoin), Ardoino maintains that Tether has no plans to go public. Circle’s stock saw a massive surge after its debut on the New York Stock Exchange, but this success hasn’t changed Tether’s strategy.
Tether’s Future
While the company is clearly doing well, Tether’s leadership has decided to stay private for now. This decision comes despite the enormous potential financial gains that could come with an IPO.
