Tether CEO Favors Bitcoin Over Ethereum in Clear Decision
Tether CEO Paolo Ardoino has made a clear choice between Bitcoin and Ethereum, favoring the former over the latter due to its immutability and limited supply. In a recent social media post, Ardoino dismissed the idea of allocating profits to Ethereum, emphasizing Bitcoin’s attributes by stating, “Bitcoin is immutable. Only 21 million coins. Easy choice.”
Last May, Tether announced its decision to allocate 15% of its profits towards purchasing Bitcoin, aiming to enhance and diversify its reserves. Ardoino highlighted Bitcoin as a long-term store of value with significant growth potential. Despite Tether’s record-breaking net profit of $1.3 billion in the most recent quarterly report, its Bitcoin reserves remained unchanged. However, Ardoino clarified that the stablecoin issuer did acquire Bitcoin through its investment arm in 2024.
Ardoino also pointed out Ethereum’s declining performance against Bitcoin, noting a 45% decrease since its peak in December 2021. This observation underscores Bitcoin’s dominance and appeal compared to Ethereum in the eyes of the Tether CEO.
The choice to prioritize Bitcoin over Ethereum aligns with Tether’s strategic vision to strengthen its position in the cryptocurrency market. By focusing on Bitcoin, Tether aims to leverage the digital asset’s unique qualities, such as scarcity and established store of value characteristics. This decision reflects a broader trend in the crypto space, where Bitcoin continues to maintain its status as a leading digital asset with enduring value and appeal to investors.
Overall, Tether’s preference for Bitcoin over Ethereum underscores the ongoing evolution and competition within the cryptocurrency ecosystem. As the market landscape continues to evolve, strategic decisions like these play a crucial role in shaping the future of digital assets and the broader blockchain industry.
