As volatility in the digital asset market intensifies, the head of Tether, the world’s largest stablecoin issuer, emphasized Bitcoin’s resilience and asserted that an 80% collapse like those of the past will not recur.
According to cryptocurrency outlet U.Today on February 7 (local time), CEO Paolo Ardoino shared key risks facing Bitcoin and his outlook during a recent podcast interview. While identifying the bubble formed by excessive capital concentration in the artificial intelligence (AI) sector as Bitcoin’s biggest threat, Ardoino argued that adoption by pension funds and nation-states would serve as a strong support level against price declines.
Ardoino warned that Bitcoin still maintains a high correlation with traditional capital markets, leaving it exposed to stock market shocks triggered by overinvestment in AI-related companies. He expressed concern about cascading asset value declines if massive funds poured into AI infrastructure and data centers fail to deliver expected returns. However, he stressed that another devastating price crash of around 80%, like those seen in 2018 or 2022, is becoming increasingly unlikely, citing the market’s structural maturity.
The basis for Ardoino’s confidence in Bitcoin’s resilience lies in the changed posture of institutional investors. He analyzed that as global pension funds and government institutions begin adding Bitcoin to their portfolios, the market’s underlying strength has been reinforced to an extent incomparable to the past. Ardoino also predicted that the tokenization of real-world assets (RWAs) will become a major trend in the digital asset market, drawing attention to the growth potential brought by the digitization of securities and commodities.
On the topic of digital asset regulation, he took a critical view of the European market. Ardoino assessed that Europe’s Markets in Crypto-Assets (MiCA) regulation is stifling innovation and causing the region to lag behind in technological progress. He also expressed caution about excessive institutionalization as Bitcoin enters the regulatory mainstream, arguing that Bitcoin’s intrinsic value lies in individual financial freedom and that a scenario in which 99% of assets are controlled by institutions is undesirable.
At present, Bitcoin has fallen from its peak of $126,000 and is forming a support level around $60,000, while investors’ anxiety has intensified amid a widening return gap with safe-haven assets like gold. Ardoino revealed that Tether is supporting decentralization of the ecosystem by open-sourcing its Bitcoin mining infrastructure and stated that the company will continue providing technical support and asset allocation strategies to underpin Bitcoin’s resilience.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for any investment losses based on it. The content should be interpreted solely for informational purposes.*
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