Tether has no plans for an IPO despite Circle’s success, says the head of the USDT issuer.
The CEO believes that a $515 billion valuation is “a bit bearish.”
The company is investing in Bitcoin, gold, and new fintech assets.

Tether CEO Paolo Ardoino stated that the company is not considering going public, despite the successful stock market debut of competitor Circle on the NYSE. According to him, the USDT stablecoin issuer is growing successfully and does not require an initial public offering (IPO).

Ardoino responded to comments from Artmesis CEO John Ma, who suggested that Tether could reach a $515 billion market cap and rank among the world’s top 20 companies. However, the head of USDT's issuer believes this estimate is too low, citing the company’s growing reserves of Bitcoin and gold.

He noted that the company’s financial reserves are growing, and the market capitalization of the USDT stablecoin has already exceeded $154 billion. According to him, Tether continues to actively diversify its investments, including through the acquisition of Bitcoin-related assets.

Recently, Tether acquired a controlling stake in the new fintech company Twenty One Capital, founded by Jack Mallers. The firm quickly rose to become the third-largest corporate holder of Bitcoin, behind only MicroStrategy and MARA Holdings.

The company has also transferred over 37,000 BTC to a crypto-focused platform. Analysts believe such moves reflect Tether’s strategic commitment to strengthening its position in the digital economy.

Some investors, including Anthony Pompliano and Jack Mallers, believe Tether’s market cap could eventually reach $1 trillion. Ardoino, for his part, emphasized that the company is focused on growth rather than going public.

As a reminder, we previously reported that Tether will maintain its focus on international markets despite regulatory changes in the U.S.