Editor's PiCK
"Tether's valuation would reach $515 billion upon listing… surpassing Coca-Cola and Costco"
Summary
- There is analysis that the stablecoin issuer Tether would have a company valuation of $515 billion if it were to go public.
- Jon Ma, founder of Artemis, cited Tether's net income, supply, and EBITDA as the basis for his calculation.
- Paolo Ardoino, Tether CEO, said that taking into account their Bitcoin, gold, and holdings, the estimate is conservative and he humbly accepted it.
Analysis suggests that the valuation of the stablecoin issuer Tether (USDT) would reach $515 billion (about ₩701 trillion) if it were to go public.
Jon Ma, the founder of Artemis, stated on X on the 7th (local time), "If Tether were to list today, its valuation would reach $515 billion," adding, "(Tether's valuation) would surpass Coca-Cola and Costco, ranking 19th worldwide."
Jon Ma referenced Circle, the issuer of USD Coin (USDC), as the basis for his valuation methodology. He said, "Currently, Circle is a listed company with a market cap of $30 billion," and "Circle's company value is rated at 69.3 times EBITDA." He added, "The $515 billion figure is calculated considering Tether’s net income, supply, and EBITDA."
Paolo Ardoino, CEO of Tether, commented on the valuation presented by Jon Ma, calling it a "beautiful number." On the 8th, Ardoino stated on X, "Given the Bitcoin and gold reserves we currently hold, it's actually a rather conservative estimate," and added, "Nonetheless, we accept it with humility."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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