Cardano Founder Proposes Converting $100 Million from ADA to BTC and Stablecoins

Charles Hoskinson, the founder of Cardano (ADA), has proposed a radical shift in the treasury management of the Cardano system. According to a Cointelegraph report, Hoskinson suggests converting $100 million from ADA, currently held in the treasury, into Bitcoin (BTC) and stablecoins such as USDM and USDA. This strategic move aims to enhance liquidity and stability within the Cardano network. Hoskinson explained that the current proportion of stablecoins on Cardano is about 10% of the total value locked (TVL). The goal is to raise this percentage to a stronger range of 30% to 40% through this conversion. By increasing the proportion of Bitcoin and stablecoins, Cardano aims to mitigate volatility risks and provide a more secure foundation for decentralized applications.