Charles Hoskinson Responds to Bitcoin Advocate's Criticism, Questions Michael Saylor's BTC Buying Strategy

Charles Hoskinson, CEO of IOHK, has again found himself at the center of a heated discussion in the crypto community. This time, the debate surrounds a statement made by Chetan Kaul, a Bitcoin advocate.

Charles Hoskinson, the founder of Cardano, has hit back at a Bitcoin advocate who claimed that BTC has “high integrity” ambassadors, while other cryptocurrencies have “low integrity” representatives.

Chetan Kaul, a Bitcoin advocate, posted a comment on X contrasting the leadership of Bitcoin with other cryptocurrencies, which sparked an exchange between him and Hoskinson.

Kaul’s post, which was in response to a discussion about Bitcoin ambassadors, stated that Bitcoin, as “high integrity money,” attracted high integrity ambassadors like Michael Saylor, while “low integrity shitcoins” attracted figures like Charles Hoskinson.

Hoskinson, who is known for his outspoken critiques of Bitcoin and its community, quickly responded to Kaul’s comment, questioning the definition of integrity that was being used in the argument.

“They never explain the low integrity part. They never explain the high integrity part. They worship a guy who literally just borrows money to buy Bitcoin. So much progress changing the economic, political, and social systems of the world.

Welcome to a cult,” Hoskinson wrote on Twitter.

Hoskinson was referring to MicroStrategy’s financial strategy, which involves borrowing money to purchase Bitcoin. The company, led by Michael Saylor, is one of the largest institutional investors in Bitcoin.

As of September 20, 2024, MicroStrategy held a total of 252,220 bitcoins, according to the company’s latest filing with the U.S. Securities and Exchange Commission (SEC). The company made two significant purchases recently, acquiring 18,300 bitcoins for $1.11 billion on September 13 and 7,420 bitcoins for $458.2 million on September 20.

In total, the company has spent approximately $9.91 billion on比特币 at an average purchase price of $39,292.18 per bitcoin, as of the last reported purchase price.

While Hoskinson’s comment was specifically directed at Kaul’s use of the term “integrity,” it also sparked a broader discussion within the community about the contributions of various cryptocurrency figures.

Some community members quickly came to Hoskinson’s defense, highlighting Cardano’s decentralization and security, and contrasting it with Saylor’s heavy involvement in traditional finance systems to purchase Bitcoin.

Kaul, on the other hand, remained focused on his disdain for what he called “shitcoins,” doubling down on his stance that Bitcoin is the superior cryptocurrency.

Meanwhile, Hoskinson has always maintained a strong belief in Cardano’s potential to surpass Bitcoin. In a previous interview with Altcoin Daily, he discussed this possibility in detail.

Hoskinson argued that Cardano’s community-driven approach and its ability to adapt rapidly could position it as a leader in the cryptocurrency space, especially considering Bitcoin’s slow development and community分裂.

Cardano Founder Recognized at ETH10X Event

Fresh from the ETHDenver event, Hoskinson was recognized at the ETH10X event in Switzerland, which celebrated the 10th anniversary of Ethereum’s founding and highlighted the impact it has had on the global blockchain industry.

The event, which took place in Crypto Valley and was attended by seven of Ethereum’s co-founders, acknowledged Hoskinson’s role in developing the blockchain hub.

Input Output Global, the blockchain engineering firm co-founded by Hoskinson, released a statement following the event, highlighting the significance of ETH10X and Hoskinson’s involvement.

“Seven of Ethereum’s eight co-founders were recognized at ETH10X in Switzerland for their contributions to blockchain innovation, alongside Charles Hoskinson, who helped establish Crypto Valley and played a role in shaping Ethereum’s early development,” the statement reads.

During the ceremony, Hoskinson expressed his appreciation for the recognition and acknowledged the growth of Crypto Valley over the past decade.

“It was an honor to be recognized alongside the Ethereum co-founders at ETH10X. Crypto Valley has grown immensely over the past 10 years, and I am proud to have played a role in its development,” Hoskinson said.

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