Tether CEO Paolo Ardoino recently referred to Bitcoin as the only true decentralized cryptocurrency, lauding its uniqueness and consistency. The CEO of the largest stablecoin issuer maintained that Bitcoins’ status as the apex cryptocurrency might never be usurped.
Ardoino also expressed his skepticism about the booming meme coin industry, adding that Bitcoin and meme coins are “completely at the opposite parts of the spectrum.”
Speaking to journalists at the recently concluded Bitcoin-only conference in Prague, Ardoino noted that Bitcoin is “the only example of a currency that is only ruled by math that basically cannot be changed.” Conversely, other cryptocurrencies totaling over 14,000 are centralized to varying degrees.
“With the other currencies, you see that there is a group of developers that come every month. They are coming out with a new software release, they change the monetary policy, inflationary, deflationary, and they keep changing things,” the CEO said.
Bitcoin’s Stability Secures Its Dominance Amidst Evolving Cryptocurrency Landscape, Says Tether CEO
Unlike other cryptocurrencies that undergo occasional or constant modification, Bitcoins maintain a fixed infrastructure and protocol. According to the Tether CEO, this unique feature has ensured Bitcoin’s leading market position amid growing competition. Ardoino asserted that such stability could not be replicated in the current cryptocurrency outlook.
“With the other currencies, you see that there is a group of developers that come every month. They are coming out with a new software release; they can change monetary policy, inflationary, deflationary, and they keep changing things,” Adoino stated.
Since its inception, Bitcoin has been the number one digital asset in the cryptocurrency market. BTC’s impressive run in March 2023 propelled it to an all-time night of $73,000, reinforcing its popularity among market participants.
Ardoino’s Bitcoin remarks reflect the BTC’s undisputed position as the king of digital assets. Despite attempts by other crypto assets to rival Bitcoin, none have matched its underlying stability and decentralization.
As of press time, BTC is trading at $66,076, having shed 0.93% of its value over the past intraday session. Additionally, it is positioned 15.39% above its 200-day SMA of $56,868.
