• Hoskinson proposes converting 5-10% of Cardano treasury into Bitcoin and stablecoins.
• Solana Labs co-founder calls it a “dumb” plan, questioning the need for teams to hold BTC.
• Community criticized Hoskinson’s strategy since it implies BTC is more valuable.

Solana Labs co-founder Anatoly Yakovenko has criticized Cardano founder Charles Hoskinson’s proposal to convert portions of the Cardano treasury into Bitcoin and stablecoins. He called the strategy “so dumb” and questioned why projects would hold Bitcoin on behalf of token holders.

Yakovenko’s response came after Hoskinson outlined plans to convert 5-10% of Cardano’s $1.2 billion treasury into alternative assets to generate yield and create what he described as crypto’s first sovereign wealth fund. Hoskinson’s video detailed a multi-year strategy where converted assets would generate annual yield to repurchase ADA to…

The post Solana Labs Co-Founder Calls Cardano’s BTC Treasury Strategy “Dumb” Approach appeared first on Coin Edition.

• Hoskinson proposes converting 5-10% of Cardano treasury into Bitcoin and stablecoins.
• Solana Labs co-founder calls it a “dumb” plan, questioning the need for teams to hold BTC.
• Community criticized Hoskinson’s strategy since it implies BTC is more valuable.

Solana Labs co-founder Anatoly Yakovenko has criticized Cardano founder Charles Hoskinson’s proposal to convert portions of the Cardano treasury into Bitcoin and stablecoins. He called the strategy “so dumb” and questioned why projects would hold Bitcoin on behalf of token holders.

Yakovenko’s response came after Hoskinson outlined plans to convert 5-10% of Cardano’s $1.2 billion treasury into alternative assets to generate yield and create what he described as crypto’s first sovereign wealth fund. Hoskinson’s video detailed a multi-year strategy where converted assets would generate annual yield to repurchase ADA to…

The post Solana Labs Co-Founder Calls Cardano’s BTC Treasury Strategy “Dumb” Approach appeared first on Coin Edition.