Bitwise CIO: Tether is likely to surpass Saudi Aramco to become the world's most profitable company

According to ChainCatcher, as reported by The Block, Bitwise Chief Investment Officer Matt Hougan stated in his latest client memo that leading stablecoin issuer Tether may surpass Saudi Aramco to become the most profitable company in history.

Currently, Tether has over 400 million users, adds 35 million new wallets each quarter, and holds more than $127 billion in U.S. Treasury bonds. If its asset scale reaches $3 trillion, its profits will exceed Saudi Aramco's $120 billion earnings in 2024. Tether is actively expanding into multiple sectors including AI, telecommunications, and data centers, and has launched a new stablecoin, USAT, for U.S. users. In 2024, Tether generated approximately $13 billion in profit with a team of fewer than 200 people and currently holds $11.4 billion worth of bitcoin.