{"id":134814,"date":"2024-08-03T11:00:35","date_gmt":"2024-08-03T08:00:35","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134814"},"modified":"2024-08-03T02:37:36","modified_gmt":"2024-08-02T23:37:36","slug":"tether-ceo-rejects-ethereum-investment-sticks-with-bitcoin","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/tether-ceo-rejects-ethereum-investment-sticks-with-bitcoin\/","title":{"rendered":"Tether CEO Rejects Ethereum Investment, Sticks with Bitcoin"},"content":{"rendered":"<p>Ardoino <strong><a href=\"https:\/\/x.com\/paoloardoino\/status\/1819436731134877967\" target=\"_blank\" rel=\"nofollow\">emphasized<\/a> <\/strong>his preference for <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a> <\/strong>over <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">Ethereum<\/a><\/strong>, citing Bitcoin\u2019s fixed supply and immutability as key reasons. \u201cBitcoin is immutable. Only 21 million coins. Easy choice,\u201d he remarked.<\/p>\n<p>Last yeaar Tether <strong><a href=\"https:\/\/tether.io\/news\/tether-to-further-strengthen-reserves-through-purchase-of-bitcoin-with-realized-net-operating-profits\/\" target=\"_blank\" rel=\"nofollow\">announced<\/a> <\/strong>plans to allocate 15% of its profits toward purchasing Bitcoin to bolster and diversify its reserves. At that time, Ardoino described Bitcoin as \u201ca long-term store of value with substantial growth potential.\u201d<\/p>\n<p>Despite <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/tether\/\">Tether\u2019s<\/a> <\/strong>latest quarterly report showing no change in its Bitcoin reserves and a record-breaking net profit of $1.3 billion, Ardoino later clarified that the company did buy Bitcoin through its investment arm in 2024.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/5-things-you-didnt-know-about-bitcoins-market-performance\/\" title=\"5 Things You Didn&#8217;t Know About Bitcoin&#8217;s Market Performance\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/07\/pexels-bitcoin-currency-3341504_1280-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">5 Things You Didn&#8217;t Know About Bitcoin&#8217;s Market Performance<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>This isn\u2019t Ardoino\u2019s first critique of Ethereum. Following the Merge upgrade in 2022, he argued that Ethereum still couldn\u2019t compete with Bitcoin and criticized its frequent narrative shifts.<\/p>\n<p>Ardoino also highlighted Ethereum\u2019s poor performance compared to Bitcoin over recent years. The ETH\/BTC pair has dropped 45% since its peak in December 2021. Although Ethereum saw a significant price surge in May due to the approval of various spot ETFs, it failed to sustain its momentum.<\/p>\n<p>The future price action of Ethereum will likely depend on the level of inflows, which have so far been underwhelming, partly due to outflows from Grayscale\u2019s product.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a recent social media post, Tether CEO Paolo Ardoino rejected the idea of investing some of the company&#8217;s profits in Ethereum.<\/p>\n","protected":false},"author":3,"featured_media":36517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-134814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO 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