#carnado
Charles Hoskinson Wants to Swap $100M in ADA for Bitcoin & More
Here we go again. Hot on the heels of Polkadot’s proposal to diversify into Bitcoin, Cardano (ADA-USD) co-founder Charles Hoskinson just floated his own $100 million crypto chess move. The idea? Convert a chunk of ADA treasury into Bitcoin and stablecoin, and inject real liquidity into Cardano’s DeFi ecosystem, where stablecoin adoption and user activity still lag far behind rivals like Solana (SOL-USD).
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Hoskinson pitched the plan on a livestream, suggesting that $100 million worth of ADA be swapped into a mix of Bitcoin, USDM, and USDA. The goal is bold: supercharge Cardano’s DeFi scene by pumping up stablecoin activity and kickstarting Bitcoin DeFi on the network.
While it echoes Polkadot’s recent strategic reserve idea, the Cardano twist adds fuel to an already simmering internal debate. Because not everyone’s on board.
Hoskinson Defends the Sale, Blasts Critics
Critics immediately flagged the risk of market impact. But Hoskinson wasn’t having it. He dismissed the concern as noise from “inexperienced” voices. Liquidity, he claimed, isn’t a problem.
“This wouldn’t cause any problems at all,” Hoskinson said, adding that ADA’s depth and trading volume can absorb the move.
That may be true in theory. But a $100 million offload, even via a slow DCA strategy, still raises questions in a market where sentiment can turn on a dime.
Stablecoins Are “Killing Cardano,” Says Hoskinson
In a post on X, Hoskinson got blunt: Cardano’s lagging DeFi and stablecoin footprint is “killing” the network.
Currently, only about 10% of Cardano’s $356 million total value locked (TVL) is in stablecoins. Compare that to Solana’s $9.8 billion TVL and $11 billion in stablecoins, and the contrast stings.
