Tether CEO Paolo Ardoino Says 'Bitcoin Is the Most Beautiful Currency on the Planet'

IconCrypto News Terminal24 Apr, 2024

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Tether CEO Paolo Ardoino Says 'Bitcoin Is the Most Beautiful Currency on the Planet'

Paolo Ardoino, the CEO of Tether, believes Bitcoin (BTC) is the most beautiful currency on the planet. Ardoino stated that if just 1-2% of the funds managed by large traditional hedge funds and institutional investors were to invest in a spot Bitcoin exchange-traded fund (ETF), it could significantly impact BTC's price. Ardoino also emphasized that Tether is not interested in decentralized finance (DeFi) despite USDT being heavily utilized in the space. Instead, Tether sees its primary use case as providing financial services to people in developing countries and emerging markets who lack access to the traditional financial system. Additionally, Tether invests in AI projects with the revenue it generates, with 10% of last year's $6 billion revenue allocated to such investments. Previously on April 24, 2024, Tether emphasized its commitment to providing Tether to people in developing countries, emerging markets, and other places where there is a need for dollarization but where people are left out of the traditional financial system.

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