Tether Unveils Satoshi Nakamoto Statue at Plan ₿ Forum in Swiss City Lugano

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

According to a press release by Tether, the Satoshi Nakamoto statue embodies the Bitcoin creator’s mystery and innovation, honoring their 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 an observer’s perspective. It gradually disappears as an observer changes their position to the front or back, and it fully depicts an image of a man focused on his laptop if observed 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’s an honor to unveil this tribute to a visionary who reshaped the world of finance and empowered millions globally,” said Tether CEO Paolo Ardoino.

Tether asserted 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 sits in front of Lugano’s Villa Ciani.

Embracing Crypto Payments

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

The city hosts a Plan ₿ forum each 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 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. We are proud to host the Plan ₿ Forum and to support the growth of blockchain technology and digital assets, and we are thrilled to now be home to this statue honoring the creator of Bitcoin.”

In December 2023, Lugano fully embraced crypto payments by incorporating a technology that allows residents to handle their expenses by scanning the invoice QR code via their preferred mobile wallets.