Bitwise CIO "Tether Will Become the Most Profitable Company in the World"

Stablecoin issuer Tether (Tether) could become the most profitable company in history, surpassing Saudi Aramco, if its growth continues.

On the 30th (local time), Matt Hougan, Chief Investment Officer (CIO) of Bitwise, said in a client letter that "Tether's growth trajectory shows the nature of the crypto asset industry targeting a $1 trillion market" and that "investors need to rethink how they view crypto assets." He added, "If Tether's assets increase to $3 trillion, it could generate profits exceeding last year's Saudi Aramco profit of more than $120 billion at current interest rate levels."

He specifically noted that Tether is effectively acting as a reserve currency, particularly in emerging markets. Hougan said, "If emerging countries switch from their local currencies to USDT, Tether could manage assets in the trillions of dollars," adding, "Crypto assets are targeting the world's largest markets, and even capturing a portion could produce growth incomparable to traditional industries."

He also said that Ethereum (ETH) and Solana (SOL) have the potential to expand their share in global payments and capital markets, which would support corporate valuations of about $500 billion and $100 billion, respectively.

Meanwhile, according to Paolo Ardoino, Tether's Chief Executive Officer (CEO), more than 400 million people worldwide are currently using USDT.