Overview
- Paolo Ardoino said on the Bitcoin Capital podcast that a reversal after heavy spending on GPUs, data centers and power could spill from equities into crypto in 2026.
- He argued Bitcoin remains tied to broader risk appetite, leaving it exposed to an AI-led equity correction even if any impact on crypto proves secondary.
- He highlighted tokenized real-world assets as the sector’s next growth driver, pointing to on-chain issuance of securities and commodities.
- He criticized Europe’s MiCA regime as restrictive and noted that Tether’s refusal to align has prompted several European providers to delist USDT.
- He warned against excessive institutional dominance and treasury-only strategies, urging firms to build operating businesses and citing Tether-backed Twenty One as an example.