Paolo Ardoino, CEO of Tether, the company that developed the USDT cryptocurrency, has made a prediction about the existence of the most common cryptocurrencies.
Paolo Ardoino, CEO of Tether, the company that developed the USDT cryptocurrency, has made a prediction about the existence of the most common cryptocurrencies.
In the Bitcoin Italia podcast, he stated that in the long term, the USDT stablecoin, which his company issues, will become unnecessary, and the world will use only Bitcoin.
According to Paolo Ardoino, the global financial system will soon face a crisis that will cause the collapse of national currencies and hyperinflation: «A crisis is inevitable. In such a scenario, only the first cryptocurrency will survive, and the USDT stablecoin will turn out to be an unnecessary asset in the long term.»
The businessman believes that the task of Tether, the stablecoin operator, is to help countries with emerging economies gradually adapt their financial systems to the Bitcoin standard.
According to Ardoino, Bitcoin will be able to survive any cataclysms and will be in demand even after 2000 years, and USDT will exist as long as there is a need for it.
Ardoino emphasized that USDT remains the leading stablecoin with a market cap of $142 billion, more than double Circle USDC’s $56 billion. He said that the number of USDT users has exceeded 400 million, with 35 million new wallets being created every quarter.
He also noted that Tether will continue to expand financial inclusion in developing economies, despite pressure from competitors. According to the CEO, attempts to «kill» the company through legal tools indicate the weakness of their own business model.
The expert described USDT as a «transitional product» and noted that Tether’s goal is to help countries with unstable economies gradually adapt to the Bitcoin standard.
«This is a currency that can withstand any hardship, even after 2,000 years,» Ardoino emphasized the stability of digital gold.
In conclusion, the Tether CEO noted that USDT will remain relevant as long as there is a need for it.
Ardoino’s comments come amid the recent removal of Tether from the list of companies approved by the European Union to issue stablecoins under the MiCA regulatory initiative, a move that could complicate Tether’s operations in the region and create additional barriers to the spread of USDT.
Analysts believe that the growing pressure on Tether is due to its dominant position in the market, as well as regulatory and transparency issues with the company. However, USDT remains a key liquidity tool in the crypto industry, especially in developing countries.
