Tether unveils disappearing Bitcoin creator’s statue in Switzerland to honor legacy

Tether, the company behind the world’s largest stablecoin, USDT, has unveiled a unique disappearing statue of Bitcoin’s elusive creator, Satoshi Nakamoto, during the 3rd Annual Plan ₿ Forum in Lugano, Switzerland. The life-sized statue was revealed as part of the event’s celebrations of Nakamoto’s vision and lasting impact on the cryptocurrency world.

In a blog post released on October 25, Tether explained that the statue was designed to honor the mystery and legacy of Bitcoin’s anonymous creator, acknowledging how Nakamoto’s pioneering work has shaped the global financial landscape. The statue’s design is particularly interesting, as it is described as “disappearing,” which symbolizes Nakamoto’s continued anonymity and the idea that the creator’s identity is almost as intangible as the digital currency itself.

The Plan ₿ Forum, held in Lugano, is a prominent event focused on Bitcoin adoption and the future of decentralized finance. Tether’s involvement and the unveiling of this artwork reflect the company’s deep ties to the cryptocurrency movement and its ongoing support for Bitcoin’s core principles.

The disappearing statue of Satoshi Nakamoto was designed by artist Valentina Picozzi and creates a striking visual effect. As observers move around the statue, its form gradually fades from view, symbolizing Nakamoto’s retreat from the public eye after the creation of Bitcoin. The installation serves as a metaphor for Nakamoto’s continued anonymity, aligning with the mysterious nature of Bitcoin’s origins.

Michele Foletti, the mayor of Lugano, which is quickly emerging as a hub for digital innovation, stated:
“Lugano is rapidly becoming a leading hub for digital innovation, and this statue honors Satoshi Nakamoto but also embodies the forward-thinking spirit that drives our city.”

The statue’s unveiling comes at a time when speculation about Nakamoto’s identity has resurfaced, especially after the release of the HBO documentary “Money Electric: The Bitcoin Mystery.” Directed by Cullen Hoback, the documentary proposes Peter Todd, a Bitcoin developer with a cryptographic background, as a potential candidate for Nakamoto. Hoback pointed to a 2010 forum exchange, suggesting a slip-up that might link Todd to Nakamoto. However, this claim has been met with skepticism by many in the Bitcoin community, and Peter Todd himself has denied any such association, warning that these allegations could lead to serious consequences.

Despite the controversies surrounding Nakamoto’s true identity, Tether CEO Paolo Ardoino emphasized that the statue is a celebration of Nakamoto’s legacy and vision. According to Ardoino, the artwork serves as a reminder of Nakamoto’s enduring influence on the world of cryptocurrency, and it encourages the industry to continue pushing the boundaries of innovation and financial freedom.