According to U.Today, Charles Hoskinson, the founder of IOG, the company behind the Cardano blockchain and its native cryptocurrency ADA, has responded to recent statements made by Bitcoin maximalist Michael Saylor. Saylor, the founder and chairman of MicroStrategy, stated during his speech at the Bitcoin for Corporations 2024 event that he expects Ethereum and other altcoins such as BNB, Solana, XRP, and Cardano to be labeled as securities, not commodities, by the Securities and Exchange Commission (SEC) this summer. He also predicted that Wall Street firms will never show interest in these altcoins, and therefore, they will never have spot ETFs wrapped around them.
Saylor's views echo those of many Bitcoin maximalists who often argue that Bitcoin is the only legitimate cryptocurrency, while all others are merely centralized unregistered securities. This perspective is frequently shared by Jan3 CEO Samson Mow during interviews and podcasts. In response to these statements, Hoskinson quoted Saylor's speech in a tweet, responding with dark irony to Bitcoin maximalists who accuse him of constantly attacking Bitcoin and claim that 'altcoiners' are toxic. Hoskinson argued that this accusation is ironic given that Bitcoin maximalists often assert that 'literally everything but Bitcoin is illegal and a scam.'