Bitcoin Could Easily Rip Up Over 140% Amid Banking Crisis, Says Tether CTO Paolo Ardoino – Here’s the Timeline

Tether’s Chief Technology Officer (CTO) Paolo Ardoino expresses bullish sentiment on Bitcoin (BTC) as the flagship crypto asset settles below $30,000.

Ardoino says in a new CNBC interview that Bitcoin “could easily test” its all-time high of just over $69,000 reached in November 2021.

“I am bullish given everything I said in terms of geopolitical uncertainty…

I am bullish on Bitcoin. I think it can easily retest the highs around $60,000+.”

Bitcoin, which is trading at $28,109 at the time of writing, would need to jump about 145% to regain its all-time high.

According to the Tether CTO, the current banking crisis is a strong argument for adopting Bitcoin.

“Bitcoin is at this moment, I think, decoupling from the traditional financial markets. I think given the geopolitical situation that we’re in, the banking industry situation that we’re in, I think people are getting scared.

So when there are bank runs around the world, I think, Bitcoin is the only asset that you can really keep for yourself, you can have in your hardware wallet.

And it is a hedge against everything that can happen, or that has already happened in the last few months and that may happen in the future.”

Despite being bullish on Bitcoin, Ardoino says he doubts Bitcoin can reach $1 million in under 90 days as former Coinbase CTO Balaji Srinivasan bet last week.

“I know there’s a bet on Bitcoin that it can hit $1 million in 90 days. I’m a little skeptical about that, because frankly, I wouldn’t even hope for it.

Because if Bitcoin were to reach such a high price level, it would mean that the entire economy crumbles. And I’m not sure that’s the word we want to live by.”

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