Tether CEO Paolo Ardoino says the Stablecoin issuer is not planning to make it public just days after the rival circle debuted on the New York Stock Exchange (NYSE).
“There’s no need to be made public,” said Ardoino, who entered the open market on June 7th, just two days after Circle, behind Stablecoin USDC (USDC). Circle’s stock rose 167% in its first trading session in the NYSE.
$515 billion is a “beautiful number” but not enough
Ardoino addressed the valuation speculation raised by Artmesis CEO Jon Ma. CEO Jon Ma claimed that Tether, behind the Stablecoin USDT (USDT), will be made public.
Ardoino called the $515 billion valuation a “beautiful number,” but he said it might actually be too low. “Maybe it’s a bit bearish considering our current (and increasing) Bitcoin + Gold Treasury, but I’m very humble,” Aldoino said.
Prominent Bitcoin both Anthony Pipriano and Jack Mullers suggested that the company could one day reach a $1 trillion valuation.
Ardoino added that he is “really excited about the next phase of our growth.” .
According to CoinmarketCap, Tether’s USDT is ranked as the third largest cryptocurrency by market capitalization, valued at $1548.3 billion at the time of publication.
Related: USDT0 launches Omnichain version of TON ON TON TetherGoldStablecoin
Meanwhile, it was announced on April 24 that Tether will become the majority owner of Twenty One Capital, the new Bitcoin finance company founded by Strike’s Jack Mallers.
Despite its recent launch, Twenty One is already the third largest corporate holder in Bitcoin’s world, behind strategy (previously micro-strategic) and mining company Mara Holdings.
On June 3, Cointelegraph reported that Tether had totaled 37,229.69 bitcoins worth around $3.9 billion for addresses linked to the new Bitcoin-Native Financial Platform.
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