Tether presents the statue of Satoshi Nakamoto at the Plan ₿ Forum in the Swiss city of Lugano

The world’s largest stablecoin issuer, Tether, has joined authorities in the Swiss city of Lugano to unveil a new statue of pseudonymous Bitcoin creator Satoshi Nakamoto at the Plan ₿ initiative’s third annual forum .

According to a Tether press release, the statue of Satoshi Nakamoto embodies the mystery and innovation of Bitcoin’s creator, honoring his vision and legacy.

Tether unveils Satoshi Nakamoto statue in Lugano

The statue was designed by the artist Valentina Picozzi in a way that plays with the perspective of an observer. It fades away as a viewer shifts their position to the front or back, and completely renders an image of a man focused on his laptop when viewed from the sides. The image symbolizes Nakamoto’s disappearance from the public eye after creating a path for the decentralized financial system.

“This artwork serves as a reminder of the enduring influence of Satoshi’s vision, inspiring us to continue pushing the boundaries of innovation and financial freedom. It is an honor to present this tribute to a visionary who reshaped the world of finance and empowered millions of people around the world,” said Paolo Ardoino, CEO of Tether.

Tether stated that the statue serves as a reminder that the principles of decentralization and financial sovereignty continue to thrive while Nakamoto’s identity remains hidden. It is located in front of Villa Ciani in Lugano.

Embracing crypto payments

Since Lugano launched the Plan ₿ initiative in partnership with Tether two years ago, the city has made giant strides in Bitcoin adoption. The initiative allowed its residents to settle public service fees and taxes in bitcoin (BTC), Tether (USDT) and Lugano’s own stablecoin pegged to the Swiss franc (LVGA), recognizing the assets as legal tender.

The city hosts a Plan ₿ forum every year, bringing together blockchain industry leaders, government officials and Bitcoin enthusiasts to discuss the future of cryptocurrencies and decentralized finance.

Michele Foletti, Mayor of Lugano, said: “Lugano is fast becoming a leading center for digital innovation, and this statue honors Satoshi Nakamoto, but also embodies the forward-thinking spirit that drives our city. We are proud to host the ₿ Plan Forum and to support the growth of blockchain technology and digital assets, and we are delighted to now be the home of this statue honoring the creator of Bitcoin.”

In December 2023, Lugano fully embraced crypto payments by incorporating technology that allows residents to manage their expenses by scanning the QR code on the bill using their favorite mobile wallets.

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