Saifedean Ammous, CEO of Saifedean.com and author of The Bitcoin Standard, delivered a data-driven keynote at the Bitcoin 2025 Conference, warning of inevitable U.S. dollar decline and positioning Bitcoin as the only rational hedge. “Default, devaluation, or default by devaluation are inevitable,” Ammous declared, adding pointedly, “Tether can’t fix what a century of fiat democracy ruined.”

Focusing on Tether (USDT), Ammous explained that devaluation is not a threat to the stablecoin since its liabilities devalue alongside the dollar. “Default is the main risk to Tether,” he said, “but they are protecting against it by buying Bitcoin.” He discussed how Tether…

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