Founder of Cardano has criticized MicroStrategy CEO for referring to ADA as a security and for being a toxic Bitcoin maximalist
During a recent Monglia AMA (“Ask Me Anything”) session, Cardano founder and IOG Charles Hoskinson shared his thoughts on Michael Saylor calling Cardano a security recently.
Hoskinson responds to Saylor’s claims about ADA
Hoskinson compared Michael Saylor to Tone Vayes in the current period the crypto market is living through. Vays, as the Cardano CEO reminded the community, used to be very popular and used to call everything, except Bitcoin, a scam.
Now, Hosk said, Michael Saylor has taken his place, claiming that “Bitcoin is the way” and everything else is either a scam or a security.
Cardano founder made a reminder that Cardano is far more decentrealized than Bitcoin, it has far more utility than BTC that is merely a store-of-value, according to Hoskinson, and he stated that people keep buying ADA not just to speculate but to spend ADA on various products and services offered by Cardano-based projects.
Yet Michael Saylor calls ADA a security, while according to Hoskinson the only real use case for Bitcoin is to speculate and despite this, no one calls BTC a security.
Charles also warned that if Bitcoin does not work the way Saylor expects it to, he will go bankrupt.
“Most useless people to engage with”
All in all, the Cardano founder admitted that he didn’t pay much attention to these claims from the CEO of MicroStrategy and didn’t think arguing with him about ADA would be a productive conversation. .
He also shared his view of Bitcoin maximalists, calling them “the most difficult, toxic and useless people to engage with”.
