Cardano CEO Reprimands Michael Saylor Who Called ADA A Security

Michael Saylor, the founder of MicroStrategy firm, recently called Cardano’s token, ADA, security. The accusation caused a stir then but the CEO of Cardano did not comment on it until he decided to say something.

Hoskinson Called MicroStrategy CEO A Bitcoin Maximalist

According to reports, Hoskinson used the comment section on Mongolia’s Ask Me Anything program to voice out a response. In his comment, he strictly reprimanded the hedge fund founder for his false allegations.

The Cardano CEO likened Saylor to Tone Vayes of the prevailing bearish status that the crypto market is stuck in. Hoskinson explained that Vayes is so obsessed with Bitcoin that is popularly known for tagging other digital assets as a scam. 

He continued that Saylor had followed Vayes’ footsteps as he made it obvious that Bitcoin alone is the Original crypto. He added that according to Michael Saylor of MicroStrategy hedge fund, all other digital assets are securities or scams.

Cardano CEO Refutes Accusation Claiming ADA Is Not A Security

Contradicting Saylor’s allegations, the Cardano’s head stated that ADA is as much a cryptocurrency as the cherished Bitcoin. He claimed that ADA is even more decentralized and had several use cases than Bitcoin. 

He added that Bitcoin is just an asset used for storing value. On the other hand, Hoskinson continued that people who purchase ADA can either store it or use it as payment for goods and services from merchants that support Cardano.

Hoskinson related that he was stunned when Saylor called ADA security despite all its use cases. He said he is more stunned that no one called Bitcoin security when all its use case is to speculate. 

He concluded that should the Bitcoin network go south, Saylor was going to regret relying on it. He added that the MicroStrategy hedge fund would suffer bankruptcy if this happened.

Hoskinson Said Maximalists Are Toxic To Talk With

Generally, Charles Hoskinson, Cardano CEO, said that the statement Saylor made did not move him a bit as he did not take it too seriously. He added that taking up the matter or arguing with the MicroStrategy founder would be fruitless and a waste of time.

In his post, he dropped his point of view on the so-called BTC maximalists who only endorse Bitcoin. He described them as the most toxic and complex people to converse with. 

He added that engaging in a conversation with them would only be useless and unfruitful. He concluded that they are unnecessarily obsessed with Bitcoin and every other digital asset seems useless to them.

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