Tether CEO Dismisses IPO Plans Amid Circle's 167% Stock Surge

Tether CEO Paolo Ardoino has dismissed the possibility of an initial public offering (IPO) for the stablecoin issuer, stating that there is no need for the company to go public. This statement comes less than a week after Circle's successful entry into the New York Stock Exchange (NYSE), which saw its stock surge by 167% on its debut. The public listing of Circle has reignited comparisons between the two stablecoin giants, with many speculating about Tether's potential IPO.

Ardoino's comments were in response to a valuation estimate by Artmesis CEO Jon Ma, who suggested that Tether could be worth $515 billion if it were to go public. While Ardoino acknowledged the figure as a "beautiful number," he suggested that it might actually be too conservative, given the company's current and increasing holdings in Bitcoin and gold. He expressed humility about the valuation but did not provide a specific figure for Tether's potential worth.

Key Bitcoin influencers, such as Anthony Pompliano and Jack Mallers, have also weighed in on the matter, suggesting that Tether could potentially reach a $1 trillion valuation. This optimism is reflected in Tether's strategic investments and long-term vision. The company's USDT is currently the third-largest cryptocurrency by market cap, with a value of $154.83 billion. Tether has been aggressively expanding its Bitcoin holdings and infrastructure, including the acquisition of a majority stake in Twenty One Capital, a Bitcoin treasury firm founded by Strike CEO Jack Mallers. This acquisition has made Twenty One Capital the world's third-largest corporate holder of Bitcoin, behind Strategy and MARA Holdings.

Tether's recent transfer of over 37,229 Bitcoin, worth approximately $3.9 billion, into addresses tied to a new Bitcoin-native financial platform further illustrates the company's long-term optimism and its strategy of building value outside of the traditional public market path. Ardoino expressed excitement about the next stage of growth for the company, indicating that Tether is focused on strategic investments and long-term value creation rather than a public listing.