Charles Hoskinson, the creator of Cardano and co-founder of Ethereum, has responded to Michael Saylor’s remarks about Ethereum, XRP, and other altcoins being unregistered securities. Hoskinson used his X account (formerly Twitter) to sarcastically reply to the MicroStrategy founder.
Michael Saylor Labels Ethereum, XRP, BNB, Cardano, and Solana as Securities
During a recent event called Bitcoin for Corporations 2024, Michael Saylor, the co-founder of business intelligence firm MicroStrategy, criticized top altcoins including Ethereum, XRP, BNB, Cardano (ADA), and Solana (SOL). Saylor stated that he expects the SEC to classify ETH, the second-largest cryptocurrency by market cap, as a security this summer. He also predicted that the other mentioned tokens would be deemed unregistered securities by the regulatory watchdog. Furthermore, Saylor expressed doubt that Wall Street companies would ever show interest in these altcoins and stated that they would never be approved for spot ETFs. Saylor delivered this speech on May 1st and 2nd.
“None of them will ever be wrapped by a spot ETF, none of them will be accepted by Wall Street, none of them will be accepted by mainstream institutional investors as crypto assets,” he said, emphasizing that Bitcoin is the only universally accepted institutional-grade crypto asset in the world.
Charles Hoskinson Subtly Responds to Michael Saylor
Saylor’s speech did not sit well with members of the crypto community, including Charles Hoskinson. Hoskinson replied to Saylor’s speech on his X account by imagining a conversation between Bitcoiners and Bitcoin Maximalists.
In his tweet, Hoskinson pointed out that Bitcoiners often accuse him of attacking Bitcoin, while it is actually the proponents of Bitcoin maximalism who claim that “virtually everything except Bitcoin is illegal and a scam.”
It is important to note that the classification of the mentioned tokens as securities or not is ultimately up to the court’s jurisdiction. Michael Saylor’s comments reflect his personal opinion and should not be considered as fact.
Tags
BNB
Cardano (ADA)
Ethereum
Solana
XRP
