Tether CEO “No IPO plans… Already on growth track by holding Bitcoin”

Ardoino CEO Confident In Tether's Growth Potential (Source: CryptoSlate)

Tether CEO Paolo Ardoino drew a line regarding the influx of IPO-related questions following competitor Circle's listing on the New York Stock Exchange (NYSE), stating, “There is no reason to list.” He emphasized, “Tether is already equipped with sufficient growth potential and assets, and is prepared to move to the next growth phase without an IPO.”

According to Cointelegraph on June 8 (local time), Ardoino stated, “Given the holding of Bitcoin and Gold, Tether's estimated company valuation of 515 billion dollars is rather conservative.” This ties in with the analysis by Artemis CEO John Ma, who stated, “If Tether is listed, it could become the world's 19th largest company, valued higher than Costco and Coca-Cola.”

In contrast, Circle drew market attention after its stock price surged 167% following the NYSE listing on June 5. However, Ardoino boasts that Tether has already secured stable cash flow and growth potential without IPO capital inflow.

Tether's recent actions go beyond mere stablecoin issuance. Tether has become the largest shareholder of the Bitcoin-based financial platform ‘Twenty One Capital’, and through this company, it is confirmed to hold approximately 37,229 BTC (worth 3.9 billion dollars). Even in its early stages, Twenty One Capital ranks 3rd globally based on Bitcoin holdings, which implies that Tether's Bitcoin asset strategy is gradually becoming more pronounced.

Currently, Tether's USDT maintains the 3rd position in the overall cryptocurrency market capitalization with 154.8 billion dollars. Ardoino added regarding the market's observation of Tether's company valuation potentially reaching 1 trillion dollars in the long term, “We humbly accept, but the possibility is sufficient.”

Tether's strategy to increase its influence through its own asset base and Bitcoin expansion instead of listing signals its clear intention to maintain industry dominance without an IPO for the time being.