Tether CEO Paolo Ardoino: USDT Will Be ‘Useless’ in the Long Run

Tether CEO Paolo Ardoino predicts that fiat currencies will eventually collapse, causing USDT to lose its reason for existence. In a recent podcast he called Bitcoin the only real alternative to survive hyperinflation and devaluation.

Tether CEO Paolo Ardoino Announces the Ultimate Death of USDT

Tether CEO Paolo Ardoino has become a Bitcoin maximalist and explained that Bitcoin will eventually surpass all its fiat pairs in the distant future. In a recent podcast, Ardoino stated that in this hypothetical future, Tether’s USDT would no longer have a place.

Ardoino believes that all fiat currencies will eventually sink together, as a result of their flaws. In this sense, Ardoino stated:

“I expect a financial reset, where all national currencies will collapse and experience hyperinflation. Consequently, USDT will be completely useless and at that point, I believe the world will only use Bitcoin.”

USDT is the most popular stablecoin product on the market, with a market capitalization of over $140 billion and present on various blockchains. However, Ardoino acknowledges that Tether should be seen as a transitional product that helps connect struggling economies to this Bitcoin future.

He emphasized Bitcoin’s resilience compared to other currencies, including USDT. “It is the only currency that can withstand a catastrophe from now until the next 2000 years,” Ardoino assessed.

Although this intended future is still many years away, Tether’s business model has shrunk due to strict regulations. With the implementation of Markets in Crypto-Assets (MiCA) regulations in Europe, Tether lost valuable ground on exchanges serving European countries.

Nevertheless, Ardoino stated that Tether continues to focus on emerging markets that still do not have easy access to dollars to combat economic problems that are common with fiat currencies.

The company seems to be preparing for the fate that Ardoino predicted, as it has expanded and diversified its portfolio. Over the past few months, Tether has pushed investments in green energy, artificial intelligence, and even agriculture in Latin America.

“I believe that a product -USDT- should exist as long as there is a need for it,” Ardoino concluded.