The CEO of the company behind Tether (USDT), the world’s largest stablecoin, believes that Bitcoin is the only unstoppable cryptocurrency.
According to Tether CEO Paolo Ardoino, Bitcoin stands out among the more than 14,000 various cryptocurrencies as the only one that is truly decentralized.
Ardoino emphasized that Bitcoin is unique because it is governed solely by mathematical principles that cannot be altered. He contrasted this with other cryptocurrencies, which he described as more centralized due to frequent updates and changes to their protocols by developer groups.
Bitcoin is distinct for its fixed supply of 21 million coins and its regular halving events every four years until all coins are mined. Ardoino stated that Bitcoin represents certainty, with its immutable nature akin to a clock that keeps ticking indefinitely. He asserted that while many claim to be decentralized, only Bitcoin truly fits this description.
In the interview, Ardoino acknowledged that his views might be controversial, especially since he openly admitted that Tether is centralized, unlike Bitcoin.
source: tether
Additionally, Ardoino expressed skepticism about memecoins, which are cryptocurrencies inspired by internet memes or trends. He appreciates memes but not memecoins, seeing Bitcoin and memecoins as polar opposites.
The concept of decentralization in the crypto industry involves transferring control and decision-making from a central authority to a distributed network. While decentralized finance (DeFi) promises financial decentralization, some industry figures, like Jan3 CEO Samson Mow, argue that DeFi cannot compete with Bitcoin.
Ardoino made these remarks during BTC Prague 2024, an event focused exclusively on Bitcoin, where he spoke alongside notable industry figures such as former MicroStrategy CEO Michael Saylor, Blockstream co-founder Adam Back, and Bitcoin author Jimmy Song.
