Cardano’s ADA in Spotlight: Founder Claps Back at Michael Saylor’s Crypto Critiques on ADA, XRP, ETH
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- Bitcoin maximalist Michael Saylor recently made statements suggesting that altcoins like ADA, XRP, and ETH will never have spot ETFs.
- Charles Hoskinson, founder of IOG and the Cardano blockchain, responded to Saylor’s comments with irony.
- Saylor’s comments reflect a common narrative among Bitcoin maximalists, who often label all other cryptocurrencies as unregistered securities.
Bitcoin maximalist Michael Saylor’s recent comments about altcoins have sparked a response from Cardano founder Charles Hoskinson. Saylor’s assertion that altcoins will never have spot ETFs has been met with irony and criticism from the crypto community.
Saylor says ADA, XRP, ETH will never have spot ETFs
During the recent Bitcoin for Corporations 2024 event, Michael Saylor, founder and chairman of MicroStrategy, made a bold statement about the future of altcoins. He predicted that this summer, the Securities and Exchange Commission (SEC) will label Ethereum as a security, not a commodity. Furthermore, he believes that other altcoins like BNB, Solana, XRP, and Cardano will also be deemed unregistered securities by the SEC. Saylor also suggested that Wall Street firms will never show interest in these altcoins, and as a result, they will never have spot ETFs. His comments echo the sentiments of many Bitcoin maximalists, who often view Bitcoin as the only legitimate cryptocurrency and all others as centralized unregistered securities.