Bitwise CIO Matt Hougan has suggested that Tether could become the most profitable company in history, potentially surpassing Saudi Aramco. In a recent client memo, Hougan highlighted Tether's impressive growth metrics, including over 400 million users and the addition of 35 million wallets per quarter. The company currently holds more than $127 billion in U.S. Treasuries. Hougan noted that if Tether's asset size reaches $3 trillion, its profits could exceed Saudi Aramco's projected $120 billion for 2024. Tether is diversifying its operations by expanding into AI, telecom, and data centers, and has introduced a new U.S.-focused stablecoin, USAT. In 2024, Tether generated approximately $13 billion in profit with a team of fewer than 200 people and holds $11.4 billion in Bitcoin.