Swiss City of Lugano Uncovers Statue Honouring Bitcoin Founder Satoshi Nakamoto

The city of Lugano in Switzerland is the latest to unveil a statue honoring Satoshi Nakamoto, the pseudonymous Bitcoin founder.

Bitcoin, Satoshi Nakamoto’s creation, has transcended the anonymous founder to become a global store of value and a financial giant. However, from time to time, Bitcoin enthusiasts take out time to honor the founder, whose identity is yet to be uncovered.

The latest attempt to appreciate Satoshi Nakamoto’s contribution to global finance came from a pro-Bitcoin city, Lugano. The Swiss city unveiled a statue honoring the pseudonymous founder on Friday in collaboration with the Plan B network and Tether.

Lugano Collaborates with Tether to Honour Satoshi Nakamoto

Per a blog update, Tether, the firm behind the largest stablecoin by market cap, revealed that the statue was part of the product of a collaboration with Plan B and the City of Lugano. This came in front of the Lugano Villa Ciani at the ongoing two-day 2024 Plan B Lugano forum.

Notably, the monument described Satoshi Nakamoto’s anonymity, showing a figure sitting with legs crossed, a covered face, and what looked like a personal computer. Meanwhile, the perspective changes as the viewer changes position, turning to nearly nothing at some point.

Tether’s CEO Paolo Ardoino noted that the statue stands as a reminder of Satoshi Nakamoto’s contribution to the global financial system. He further admired the pseudonymous founder’s initiative to hand over his vision to the community.

Lugano Grows Popularity as a Bitcoin Hub

Lugano has ramped up crypto adoption since adopting Bitcoin, USDT, and LVGA as legal tender in March 2022. The city and El Salvador remain among the few entities that have adopted cryptocurrencies in that capacity.

Furthermore, in December 2023, the City of Lugano also adopted Bitcoin and USDT as means of tax payment and municipal fees, setting the stage for cities and public entities to embrace the nascent financial vehicle.

The Mayor of Lugano, Michele Foletti, noted that Satoshi Nakamoto’s status depicts the city’s stance as the leading hub for digital innovation. He stated that Lugano was proud to host the Plan B conference and honored to have a memory of the pseudonymous Bitcoin founder.