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- Bitcoin maximalist Michael Saylor recently made statements suggesting that altcoins like ADA, XRP, and ETH will never have spot ETFs.
- Charles Hoskinson, founder of IOG and the Cardano blockchain, responded to Saylor’s comments with irony.
- Saylor’s comments reflect a common narrative among Bitcoin maximalists, who often label all other cryptocurrencies as unregistered securities.
Bitcoin maximalist Michael Saylor’s recent comments about altcoins have sparked a response from Cardano founder Charles Hoskinson. Saylor’s assertion that altcoins will never have spot ETFs has been met with irony and criticism from the crypto community.
Saylor says ADA, XRP, ETH will never have spot ETFs
During the recent Bitcoin for Corporations 2024 event, Michael Saylor, founder and chairman of MicroStrategy, made a bold statement about the future of altcoins. He predicted that this summer, the Securities and Exchange Commission (SEC) will label Ethereum as a security, not a commodity. Furthermore, he believes that other altcoins like BNB, Solana, XRP, and Cardano will also be deemed unregistered securities by the SEC. Saylor also suggested that Wall Street firms will never show interest in these altcoins, and as a result, they will never have spot ETFs. His comments echo the sentiments of many Bitcoin maximalists, who often view Bitcoin as the only legitimate cryptocurrency and all others as centralized unregistered securities.
Charles Hoskinson comments on Saylor’s statements
Charles Hoskinson, the creator of Cardano, responded to Saylor’s comments with a hint of dark irony. He quoted Saylor’s tweet and commented on the accusations he often faces from Bitcoin maximalists who claim that he is constantly attacking Bitcoin. Hoskinson’s response highlighted the hypocrisy of Bitcoin maximalists who label all other cryptocurrencies as scams while accusing others of toxicity. This exchange underscores the ongoing debate within the crypto community about the legitimacy and future of altcoins.
Conclusion
The debate between Bitcoin maximalists and supporters of altcoins continues to be a contentious issue within the crypto community. While some, like Michael Saylor, believe that Bitcoin is the only legitimate cryptocurrency, others like Charles Hoskinson argue that this view is narrow-minded and dismissive of the potential of altcoins. As the crypto landscape continues to evolve, these differing perspectives will undoubtedly continue to shape discussions and influence decisions within the industry.
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