Popular altcoin cardanoof (ISLAND) founder Charles Hoskinson recently evaluated the decline in the cryptocurrency market at his last AMA session.
Hoskinson argued that the panic environment created by the war crisis between Russia and Ukraine and the compelling stance of the Canadian government towards Bitcoin donations to the protesters are important in driving the global adoption of digital assets.
“This means the global adoption of cryptocurrencies by tens of millions perhaps billions of people and beyond.
That’s why I think the current situation is just a step towards a more egalitarian future, as well as worrying.”
“Focus on the Big Picture Instead of Instant Drops!”
Hoskinson, who stated that he should not focus on instant decreases in cryptocurrencies, which experienced sudden and sharp drops due to negative events, stated that on the contrary, it is necessary to look at the big picture.
Noting that there may be daily market fluctuations, Hoskinson said things will look better in the long run.
“So you have to walk away and say why are we here and what are we doing. In five years, ten years, fifteen years, everything will look better if there is real use, utility, and real purpose.”
Finally, the Cardano founder continued by stating that cryptocurrencies should work cyclically against stocks in the macro environment:
“It makes no sense because if we were going to war and we were worried about inflation, chaos and tragedy, you would think the opposite would be true.
I think crypto assets are a safe haven as instability occurs here.”
Stating that the events experienced today only strengthen the need for cryptocurrencies, Charles Hoskinson added that people gain protection against authoritarianism through cryptocurrencies.
*Not investment advice.