Key Takeaways
- Tether CEO Paolo Ardoino predicts Bitcoin will replace all fiat.
- USDT is seen as a temporary bridge to a Bitcoin-only economy.
- Ardoino warns of government control risks with CBDCs.
Tether CEO Paolo Ardoino predicts a future where Bitcoin dominates global finance, eliminating the need for stablecoins and fiat currencies.
Speaking on the Bitcoin Italia Podcast, Ardoino stated that USDT serves only as a temporary bridge between traditional finance and Bitcoin.
The future of USDT
Ardoino said:
In the long term, I don’t believe there is a future for USDT. 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’s role in emerging markets
USDT, the world’s largest stablecoin with a market cap exceeding $140 billion, plays a key role in emerging markets where people rely on stablecoins to protect their savings from currency instability.
Despite this, Ardoino sees Bitcoin as the only long-term alternative.
Transition from fiat to Bitcoin
He explained:
USDT serves as a bridge from fiat to Bitcoin. When fiat collapses, Bitcoin will be the only alternative.
Risks of Central Bank Digital Currencies
Ardoino also warned about the risks of central bank digital currencies (CBDCs), particularly the European Union’s digital euro, arguing that they could give governments excessive control over financial transactions.
He cautioned:
If the ECB had full access to all citizen transactions with complete KYC, we would find ourselves in a dystopian world.
