Solana Labs Co-Founder Calls Cardano’s BTC Treasury Strategy “Dumb” Approach
- 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.
This is so dumb. Projects should keep 18-36 months of post kill list runway in short term tbills but that’s about it. Why would anyone want a team to buy and hold bitcoin for them when they can do it themselves? Why pay for all those coconuts.
— toly(@aeyakovenko) June 16, 2025
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…
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Solana Labs Co-Founder Calls Cardano’s BTC Treasury Strategy “Dumb” Approach
- 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.
This is so dumb. Projects should keep 18-36 months of post kill list runway in short term tbills but that’s about it. Why would anyone want a team to buy and hold bitcoin for them when they can do it themselves? Why pay for all those coconuts.
— toly
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.
Read More