The rivalry between Bitcoin and gold has been ongoing for years. While gold advocates argue that Bitcoin will never surpass gold, Bitcoin supporters argue that BTC is beginning to replace gold and could reach its market value.
While the conflict between BTC and gold continues, Tether CEO Paolo Ardoino made new statements about Bitcoin (BTC) and gold.
Tether CEO, sharing from his X account, said that Bitcoin and gold will outlast all fiat currencies.
The famous CEO said that he believes that when fiat currencies lose value, BTC and gold will dominate the value of the future.
Ardoino classified Bitcoin and gold as ‘preservation of value assets’ and rejected claims by some that they were “selling Bitcoin to buy gold”.
This statement from Tteher CEO aligns with Tether’s stance of strengthening its reserve management strategies, which have focused on Bitcoin and gold for the last two years.
Ardoino also emphasized that the company’s policy of increasing its Bitcoin holdings has not changed.
Tether announced in May 2023 that it would use up to 15% of its net profits to purchase Bitcoin. “By holding Bitcoin as surplus profit rather than routine reserves,” the company said at the time, “we will strengthen our financial structure as a long-term store of value.”
On the other hand, gold, along with Bitcoin, also constitutes an important part of Tether’s asset portfolio.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/bitcoin-btc-or-gold-tether-ceo-paolo-ardoino-explained/
