Solana (SOL) founder Anatoly Yakovenko is causing controversy in the cryptocurrency community by strongly criticizing altcoin projects' Bitcoin (BTC) investment strategies. Yakovenko recently publicly disparaged on X (formerly Twitter), calling some projects' approach to selling their own assets to hold Bitcoin "really stupid".
This criticism is particularly interpreted as targeting the approximately $100 million Bitcoin and stablecoin investment plan proposed by Cardano (ADA) co-founder Charles Hoskinson. Hoskinson had previously suggested a strategy of selling ADA to convert into Bitcoin and stablecoin assets, aiming to pursue long-term financial stability and asset growth potential.
Yakovenko responded, "This is really stupid. Why would you have the project team do it when you can buy Bitcoin directly?" He added that projects should simply hold 18-36 months of operating funds in low-risk assets like US short-term government bonds. He mockingly compared the attitude of teams trying to manage personal assets to "spending money on coconuts".
While Hoskinson argued that this strategy could be reinvested in the Cardano ecosystem through future revenues, some investors are skeptical about the potential dilution of ADA's value and the policy direction. Particularly noteworthy is his past challenge to Bitcoin's "sound money" narrative, where he stated he would not "give up ground to Bitcoin maximalists", making this move seem somewhat unusual.
Cryptocurrency experts' reactions are mixed. Jeff Park from Bitwise Investment cynically stated that "it's beyond imagination for a niche altcoin to sell its own assets to stack Bitcoin collateral". Meanwhile, some DeFi platforms evaluated that this strategy could enhance Cardano's long-term competitiveness. The market anticipates potential short-term ADA price decline but also sees technical rebound possibilities.
The clash between Solana and Cardano representatives goes beyond a simple social media dispute, presenting crucial criteria for whether altcoin projects should include Bitcoin in their asset management. Attention is focused on which approach can establish itself as a more sustainable strategy in an unstable market environment.
Real-time news...Go to Token Post Telegram
<Copyright ⓒ TokenPost, Unauthorized Reproduction and Redistribution Prohibited>
