Tether Could Beat Saudi Aramco to Become History’s Most Profitable Company

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Bitwise CIO: Tether’s Growth Could Make It History’s Most Profitable Company Ever

According to Bitwise CIO Matt Hougan, Tether is growing so quickly that it could soon become as large as the world’s leading companies.

With hundreds of millions of users, substantial financial resources, and an increasing amount of Bitcoin, this entity is experiencing significant growth. Could its profits eventually surpass those of industry giants like Saudi Aramco? Let’s take a closer look.

Tether’s Billion-Dollar Path

According to a recent note to clients, Hougan believes Tether could become the most profitable company ever, potentially exceeding even Saudi Aramco’s earnings.

He explained that if Tether’s assets reached $3 trillion at today’s interest rates – roughly 3% of all money worldwide – it would become the most profitable company ever.

This statement follows news that Tether is considering a company valuation of $500 billion, which would place it among highly valued companies like OpenAI and SpaceX.

400 Million Users and Growing

Tether’s user base is substantial and growing rapidly. According to CEO Paolo Ardoino, over 400 million people globally use USDT, with roughly 35 million new users joining every three months.

Stablecoins are particularly popular in developing countries, often used as an alternative to local money and simultaneously strengthening the U.S. dollar‘s position.

Tether, the company behind the popular stablecoin, quietly holds over $127 billion in U.S. government debt, putting it among the largest investors globally – on par with some countries. They also own more than 100,000 Bitcoin, currently worth $11.4 billion, and reportedly made around $13 billion in profit last year, all while operating with a small team of fewer than 200 people.

Also, Tether is no longer just a stablecoin issuer! 

It has been pushing into AI, telecom, data centers, energy infrastructure, and bitcoin mining.

Crypto’s Big Market Play

Hougan believes crypto’s potential extends far beyond just Tether. He suggests the real opportunity is in the large markets it aims to disrupt, including payments and traditional financial systems.

While Bitcoin is valued at $2.3 trillion, it’s still smaller than the $25 trillion gold market. Meanwhile, Ethereum and Solana are challenging traditional systems in massive financial markets worth hundreds of trillions, and even potentially quadrillions of dollars.

According to Hougan, traditional markets are so vast that no single company could ever dominate them. However, he believes Ethereum and Solana are unique. Because they function as decentralized, globally-accessible supercomputers, they have the potential to capture a significant portion of the market.

Hougan advises investors to approach cryptocurrency like they would venture capital – anticipate that some investments will fail, but also recognize the potential for massive gains from successful ones, potentially exceeding those seen in traditional technology.

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2025-09-30 15:09