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

Stablecoin issuer Tether has unveiled a disappearing statue of Bitcoin’s creator, Satoshi Nakamoto, at the Plan ₿ Forum, celebrating the mystery and legacy of the crypto pioneer.

Tether (USDT), the firm behind the largest stablecoin by market capitalization, revealed a life-sized statue of Bitcoin’s anonymous creator, Satoshi Nakamoto, at the 3rd Annual Plan ₿ Forum in Lugano, Switzerland.

In a blog announcement on Oct. 25, the USDT issuer stated that the event was held “in honor of the vision and legacy of the anonymous creator of Bitcoin.”

The installation, designed by artist Valentina Picozzi, plays with perception, gradually disappearing from view as the observer changes position. The visual effect symbolizes Nakamoto’s retreat from the public eye after establishing the Bitcoin network.

“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.”

Michele Foletti, mayor of Lugano

Seeking true identity of Satoshi Nakamoto

The unveiling comes amid renewed speculation around Nakamoto’s identity, sparked by the HBO documentary “Money Electric: The Bitcoin Mystery.” Directed by Cullen Hoback, the film suggests Bitcoin developer Peter Todd could be Nakamoto, citing his cryptographic background and early involvement in Bitcoin development.

Hoback’s documentary fueled speculation by suggesting a slip-up in a 2010 forum exchange, which he interpreted as evidence of Todd’s possible link to Nakamoto. However, much of the Bitcoin community has dismissed these claims, and Todd emphasized that such allegations could have dangerous consequences.

Despite the controversies, Tether chief executive Paolo Ardoino noted that the 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.”