Does Charles Hoskinson, the one from Cardano, want to sell $100 million of ADA for Bitcoin? The community is on fire!
My lovely people! What's going on with the crypto community! Charles Hoskinson, the big shot from Cardano, has made a proposal that has everyone on edge: he wants to exchange 100 million dollars from Cardano's treasury for Bitcoin (BTC)! 🤯 The reason? He says it is to give a boost to the DeFi ecosystem of his platform.
But as always, not everyone agrees with this situation. The co-founder of Solana, Anatoly Yakovenko, didn't hold back and said that the idea is "very foolish" 🙄, that it is poor fund management and sends a very negative message to the people of Cardano. Oh boy, trouble is brewing among the crypto giants!
On his side, Hoskinson defends himself like a cat on its back. He insists that it is a bold move but necessary for Cardano to stand out in this competitive market. Additionally, the proposal aims to resolve a little issue they have with their stablecoins, which for now are not many, only about 33 million dollars! A small amount for what he wants!
But, of course, those who hold ADA tokens (the ticket of Cardano) are very anxious. 😨 They fear that if they sell so much ADA in the market, the price will plummet and investor confidence will vanish like magic. Some experts are already saying that such a large sale could affect the valuation and the image of stability of the network. No one wants to see their portfolio in the red! 💔
Hoskinson's logic is to increase liquidity and the integration of stablecoins in Cardano, so it can compete head-to-head with other heavyweights in the crypto world. He believes that the ADA market is large enough to withstand the sale without it being a disaster. And watch out, he has more plans up his sleeve: he will present a formal proposal at the Rare Evo event to continue promoting Cardano. This guy doesn't give up! 💪
So, my people, this debate is a clear example of the tension between being innovative and, at the same time, being prudent with money in the crypto world. The community and investors will be watching closely to see how this strategy develops and what happens to the future of Cardano. This is heating up! 🔥$BTC $SOL $ADA
