Charles Hoskinson responds to Michael Saylor’s speech on the appeal of ETH, XRP and other securities

Charles Hoskinson, founder of Cardano and co-founder of the Ethereum network, responded to Micheal Saylor’s comment in which he called Ethereum, XRP and other altcoins unregistered. Hoskinson took to his X account (formerly Twitter) to respond to the MicroStrategy founder with dark irony.

Michael Sylor calls Ethereum, XRP, BNB, Cardano and Solana securities

In a recent update, Michael Saylor, co-founder of business intelligence firm MicroStrategy took direct shots at the top altcoins. Ethereum, XRP, BNB, Cardano (ADA) and Solana (SOL). While giving his speech At the Bitcoin for Corporations 2024 event, the prominent figure said he expects ETH, the second-largest cryptocurrency by market capitalization, to be labeled a security by the SEC this summer .

Furthermore, he said that the other aforementioned tokens will also be declared unregistered securities by the regulatory watchdog. Additionally, Saylor made it clear that he did not think Wall Street firms would ever be interested in these altcoins. Bitcoin proponents predicted they would never be approved for spot ETFs. He delivered this speech at the mentioned event, which took place on May 1-2.

“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 traditional institutional investors as crypto assets,” he said. he declared while designating Bitcoin as “the universal and universal asset”. Institutional grade crypto asset accepted by consensus worldwide.

Charles Hoskinson responds subtly to Michael Saylor

Meanwhile, Saylor’s speech was not well received by members of the crypto community. Charles Hoskinson shares a particularly different view. On his X account, Hoskinson responded to Michael Saylor’s speech by acting out a short conversation scenario between Bitcoiners and Bitcoin Maximalists.

In his tweet, Hoskinson noted how Bitcoiners always accuse him of taking a shot at Bitcoin, while it’s the proponents of Bitcoin maximalism who constantly claim that “almost everything except Bitcoin is illegal and a scam.”

However, it is important to note that the fate of the tokens mentioned above, whether or not they are classified as securities, is within the jurisdiction of the court and no other. Michael Saylor’s comments represent his opinion only and should not be relied upon as fact.

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