In a recent statement, Cardano founder Charles Hoskinson shared his thoughts on Michael Saylor’s assessment of the ADA coin as a security.
Hoskinson compared two popular names in the crypto market, Michael Saylor and Tone Vayes. As the Cardano CEO noted, Vays used to be very popular and would call anything but Bitcoin a scam. Now, Hosk has stated that Michael Saylor has replaced Vayes, saying that everything but Bitcoin is a scam or security.
The founder of Cardano reminded that ADA coin is much more decentralized than Bitcoin, it has many more benefits than BTC, which is just a store of value. Moreover, he noted that people continue to buy ADA not just to speculate, but to spend on various products and services offered by Cardano-based projects.
According to Hoskinson, the only real use case for Bitcoin is to speculate. Despite this, Hoskinson does not consider BTC a security. The Cardano founder also warned Saylor that he would go bankrupt if Bitcoin did not perform as he expected.
In general, Cardano’s founder added that the MicroStrategy CEO didn’t pay much attention to these claims, adding that it would not be a fruitful conversation to discuss ADA with him. He also shared his view of Bitcoin maximalists, describing them as “the most difficult, toxic and useless people to relate to.”
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