Tether CEO says Bitcoin is only decentralized while others are centralized
Paolo Ardoino slammed all the cryptocurrencies over their centralized nature and called Bitcoin only a decentralized Cryptocurrency.
Paolo Ardoino is the CEO of Tether, a stablecoin firm that manages the financial transactions for USDT stablecoin. Tether (USDT) plays a significant role in the cryptocurrency market by providing a stable means of transferring value across different exchanges and platforms, aiming to maintain a 1:1 value with USD to reduce volatility.
On 13 June 2024, In an interview with Cointelegraph at the Bitcoin-only conference, Tether CEO Paolo Ardoino said that Bitcoin is unique because its rules are governed strictly by predefined mathematical algorithms, making it resistant to changes.
Furthermore, he explained that other cryptocurrencies may be more or less centralized but often have developers who regularly update software, adjust monetary policies, and make changes to how they work, which can affect factors like inflation or deflation.
Tether CEO praised Bitcoin for its certainty and reliability, functioning like a perpetual clock that never stops ticking. He added that Bitcoin is an unstoppable and decentralized product, as no other digital assets match its level of decentralization and widespread use.
Paolo clearly said that some people may consider his statements controversial but that is the actual truth of what he said and also openly admitted that Tether (USDT) stablecoin is a fully centralized cryptocurrency.
Tether CEO also shared his opinion on the surgical popularity of meme tokens and said that he likes memes but not meme coins. According to Paolo meme coins & Bitcoin are opposite things.
Bitcoin price action
The current trade price of Bitcoin is $67,001 & this trade price is 1.1% down over the last 24 hours.
Just an hour ago, Bitcoin bullish firm Microstrategy ($MSTR) announced a $700 million Bitcoin buy plan. Some experts believe that this news is going to pump the trade price of Bitcoin drastically in the next 24 hours.
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