Paolo Ardoino, Chief Technology Officer at Bitfinex, Reflects on Bitcoin Price Rally and Company’s Future
In a continuation of our conversation with Paolo Ardoino, CTO at Bitfinex, we explore the underlying reasons for the current Bitcoin price rally and the company’s partnership with El Salvador. We also discuss Ardoino’s new role as CEO at Tether, the company behind stablecoin USDT.
Ardoino draws a parallel between Bitcoin adoption and the legacy financial market, stating that adoption happens “slowly” but much more in the traditional system. He also shares his perspective on his new role, stating, “Given the fact that I’ve been leading the strategy made sense to just adjust the title on the Tether side as well.”
When asked about the impact of El Salvador’s Bitcoin Law on the population, Ardoino emphasizes the importance of patience in fostering adoption. He likens the process to the slow acceptance of credit and debit cards in Switzerland, highlighting the need for trust to be earned over time.
Regarding Bitfinex’s partnership with El Salvador, Ardoino shares details of educational projects aimed at fostering local expertise in Bitcoin and creating a strong developer base within the country. He also discusses the company’s securities license, highlighting the potential for El Salvador to become a central financial hub for Central and South America.
In response to the widespread belief that the potential approval of a spot Bitcoin ETF has bolstered the market rally, Ardoino points to the recovery of Bitcoin following its oversold state in 2022. He also notes institutions’ accumulation of Bitcoin and the growing excitement around the cryptocurrency due to its stable user base and strong fundamentals.
As of this writing, Bitcoin trades at $36,400.
(Original source: https://www.newsbtc.com/news/company/paolo-ardoino-bitfinex-on-bitcoin-price-and-partnership-with-el-salvador/)
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