Cardano Founder Reacted To Michael Saylor’s ADA, XRP, ETH Criticism

In the dynamic world of cryptocurrency, Charles Hoskinson, the founder and CEO of Cardano (ADA), has reacted to the recent comments about ADA, XRP, ETH, and other digital currencies made by MicroStrategy founder and Bitcoin supporter.

Michael Saylor, chairman and founder of MicroStrategy, said during his address at the Bitcoin for Corporations 2024 event that the Securities and Exchange Commission will classify Ethereum as a security rather than a commodity this summer. Saylor also expected that BNB, Solana, XRP, Cardano, and other altcoins would similarly be considered unregistered securities by the regulatory agency under Gary Gensler’s leadership.

Moreover, MicroStrategy’s Founder highlighted his belief that Wall Street firms will never show interest in these altcoins. As a result, he stated from the stage that they will never have spot ETFs based on them. The event where he delivered this speech occurred during the first two days of May.

Cardano Founder Hits Back

Many Bitcoin (the first digital currency) holders and supporters think that BTC is a real and registered coin. They see other coins, such as altcoins, as fake. They predicted that these coins are unregistered.

The creator of Cardano retweeted Saylor’s speech. Hoskinson responded sarcastically, referring to supporters who accused him of constantly criticizing Bitcoin and claiming that “altcoiners are so toxic.”

Hoskinson explained that this accusation is true because Bitcoin maximalists always argue that “everything except Bitcoin is illegal and a scam.”

Cardano (ADA) is one of the top 10 cryptocurrencies, with a market capitalization of $16,659,658,933. As of now, it is trading at $0.4673, showing a 2.68% increase on halving day.

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The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

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