Tether CEO Dismisses IPO Talk Following Circle’s Public Entry
Less than a week following Circle’s dazzling NYSE entry, Tether CEO Paolo Ardoino has dismissed the chances of going public with the stablecoin issuer, stating there’s “no need to go public.”
On June 7, Ardoino shut down increasing speculation on the possibility of Tether’s IPO by reaffirming the company’s financial autonomy and resilience. Circle stock surged 167% in its NYSE debut on June 5, re-igniting comparisons between the two stablecoin giants.
$515 Billion? “A Bit Bearish,” Says Ardoino
Ardoino’s comments followed a bold valuation estimate by Artmesis CEO Jon Ma, who claimed Tether could be worth $515 billion if it went public—ranking it among the world’s 20 largest companies. While he called the figure a “beautiful number,” Ardoino suggested it might actually be too conservative.
“Maybe a bit bearish considering our current (and increasing) Bitcoin + gold treasury, yet I’m very humbled,” he said.
Key Bitcoin influencers like Anthony Pompliano and Jack Mallers believe Tether can potentially reach a $1 trillion valuation.
Strategic Investments Reflects Long-Term Vision
Tether’s USDT is currently the third-largest crypto by market cap at $154.83 billion. The company has been aggressively expanding into Bitcoin holdings and infrastructure.
On April 24, Tether acquired a majority stake in Twenty One Capital, a Bitcoin treasury firm founded by Strike CEO Jack Mallers. The firm, newly formed as it is, is now the world’s third-largest corporate holder of Bitcoin, ranking behind Strategy (formerly MicroStrategy) and MARA Holdings.
Billions in Bitcoin on the Move
On June 3, Tether transferred over 37,229 Bitcoin—worth approximately $3.9 billion—into addresses tied to the new Bitcoin-native financial platform. The moves illustrate the company’s long-term bitcoin optimism and its strategy of building value off the traditional public market path.
“I’m very excited about the next stage of growth of our company,” Ardoino added.
