Founder of IOG, the company that stands behind the Cardano blockchain and its native cryptocurrency ADA Charles Hoskinson has responded to the recent statement about ADA, XRP, ETH and other altcoins made by Bitcoin maximalist Michael Saylor.
Saylor says ADA, XRP, ETH will never have spot ETFs
During his speech at the recent Bitcoin for Corporations 2024 event, the founder and chairman of MicroStrategy stated that he expects this summer Ethereum to be labelled a security, not a commodity by the Securities and Exchange Commission. Likewise, Saylor is certain, BNB, Solana, XRP, Cardano and all other altcoins will be deemed unregistered securities by the aforementioned regulatory agency spearheaded by Gary Gensler.
Besides, Saylor pointed out that he expects Wall Street firms to never take interest in these altcoins. Therefore, they will never have spot ETFs wrapped around them, the Bitcoiner pronounced from the stage. The event, where he gave the speech took place during the first two days of May.
This is the narrative of many Bitcoin maximalists – they often state that Bitcoin is the only cryptocurrency out there, while everything that followed BTC is nothing but centralized unregistered securities.
Among such tribalists is Jan3 CEO Samson Mow, he often shares this take during interviews and on podcasts.
Charles Hoskinson comments on Saylor's statements
Cardano creator quoted the tweet with Saylor’s speech. Hoskinson responded to that with dark irony, referring to those Bitcoiners who accuse him of constantly attacking Bitcoin and say that overall “altcoiners are so toxic.”
Hoskinson explained that this is true since Bitcoin maximalists always claim that “literally everything but Bitcoin is illegal and a scam.”