Tether, the dollar-pegged stablecoin, is inching closer to $100 billion in total assets. Currently, the firm’s total assets stand at $95.2 billion, with $92 billion of that amount in USDT. This significant growth has occurred over the past six years.
Tether’s expansion has garnered support from Gabor Gurbacs, a strategy advisor at VanEck. He had previously predicted Tether’s potential to reach $100 billion when its market cap was under $100 million in 2017. Gurbacs emphasized that investors often underestimate exponential innovations and advised listening to ambitious projects or predictions that may seem crazy at the time.
Tether’s CTO Paolo Ardoino also mentioned the company’s successful fourth quarter. They have been generating profits from high yields on US Treasury bills and using some of those profits to purchase Bitcoin.
In conclusion, Tether’s rapid growth in total assets is a testament to the increasing popularity and adoption of stablecoins in the crypto market.
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