 
 
In a recent interview on Bitcoin Capital, Tether CEO Paulo Ardoino shared his outlook for 2026, highlighting potential risks to Bitcoin’s price amid evolving market dynamics.
Speaking with host Jesse Knutson, Head of Operations at Bitfinex Securities, Ardoino cautioned that an AI bubble burst could trigger turmoil in U.S. stock markets, given Bitcoin’s lingering correlation with traditional capital markets.
Ardoino noted that AI companies are pouring funds into infrastructure such as data centers and GPUs, and that a shift in sentiment might cascade into Bitcoin corrections. Despite this, the Tether CEO noted that institutional interest from funds, pension plans, and governments provides a stabilizing base.
That means, extreme drops, such as the 80% plunges seen in 2018 and 2022, are less likely now. The reduced block reward from the latest halving diminishes miner sell pressure, while ETF flows gain prominence.
Ardoino also referenced recent CFTC approvals for Bitcoin spot products, which could enhance liquidity and elevate Bitcoin to gold-like status in global markets.
 
Meanwhile, Ardoino highlighted that Tether Gold’s (XAUT) market cap doubled recently, driven by institutional and retail demand from South America and Southeast Asia. A U.S.-listed company purchased $150 million in XAUT, positioning it as a savings tool alongside Bitcoin.
Regarding Bitcoin treasury companies like the upcoming 21, Ardoino advocated for sustainable operations over pure financial engineering, praising figures such as Michael Saylor and Jack Mallers for their innovation.
Regulatory shifts show promise in boutique nations like El Salvador and Georgia, while Europe lags with high taxes discouraging direct Bitcoin ownership.
That said, Ardoino is bullish on tokenization via Bitfinex Securities, which enables capital raises and democratic access. Sovereign adoption may be limited, but mining investments in resource-rich Middle East countries signal progress.
Wrapping up, the Tether CEO urged pragmatism, combining education with hedging strategies for a future in which Bitcoin thrives.