Wasn’t too far off on the projected $515B valuation for Tether in June.
Congrats @paoloardoino @Tether_to  and team.

If @Tether_to went public TODAY, Tether would be the 19th largest company in the world at $515B.
That's ahead of Costco and Coca Cola.
Here's why:
- Circle is now public at $30B marketcap
- Our financial model has Circle at $410B EBITDA in 2025 or 69.3x EBITDA
- Tether claims

Jon Ma

Twitter

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