Tether CEO: It is expected that Bitcoin will become the only currency used globally in the future, and therefore USDT will become useless
According to Bitcoin.com, Tether CEO Paolo Ardoino recently publicly stated that he is a great believer in Bitcoin and predicted that one day, Bitcoin will surpass all fiat currencies. He mentioned in the podcast that by then, Tether's stablecoin USDT would lose its purpose. Ardoino believes that all fiat currencies will eventually collapse due to their inherent flaws, leading to a reset of the global financial system. Fiat currencies will face hyperinflation, making USDT useless while Bitcoin becomes the only currency used globally.
Although Tether is currently the largest stablecoin by market value worldwide, Ardoino admits that USDT is just a transitional product designed to help economies in distress gradually transition to a future dominated by Bitcoin. He emphasized that Bitcoin is the only currency capable of withstanding any disaster over the next 2000 years; its resilience far exceeds other currencies including USDT.
Even though this envisioned future seems distant now due to strict regulations causing Tether's business model has been shrinking. With Europe’s Markets in Crypto-Assets (MiCA) regulation coming into effect, Tether lost its significant position among exchanges serving European countries. Nevertheless, Ardoino said Tether still focuses on emerging markets which lack easy access to dollars for dealing with common economic problems associated with fiat money. The company appears preparing for what Ardoino predicts as it continues expanding and diversifying its investment portfolio over recent months pushing investments into green energy sources artificial intelligence even agriculture in Latin America.
Ardoino concluded: "I believe products like USDT should exist as long as there's demand."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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