Cardano founder Charles Hoskinson responded to criticism from investors following the sharp drops in ADA’s price. Hoskinson stated that he never guaranteed that Cardano would outperform Bitcoin or that the ADA price would rise.
According to Decrypt, Hoskinson stated in a Q&A session (AMA) on YouTube that some investors expect him to directly predict an increase in the ADA price. While emphasizing his continued belief in Cardano’s long-term potential, Hoskinson stressed that this expectation should not be considered a definitive price prediction.
Hoskinson made the following statement regarding the matter:
“I never made such a promise. I said I would very much like it to happen, and for various reasons I believe Cardano is a better store of value than Bitcoin. I’m not promising a price increase or a shift in the balance. I’m just saying it’s absolutely possible.”
Hoskinson: I Kept My Promises to Cardano
Hoskinson also touched upon Cardano’s development process, arguing that the project had completed its initially defined roadmap. The founder stated that all the core components he committed to building had been implemented and that the network could now be managed independently of him.
According to Hoskinson, Cardano’s achievement of its initial goals in terms of technical development and decentralized governance demonstrates a significant success for the project. However, Hoskinson argued that technical progress does not guarantee a rise in the ADA price.
Hoskinson’s remarks come at a time when ADA has significantly fallen in value compared to its previous peaks.
According to the data reported in the news, ADA was trading at approximately $0.17, more than 94% below its all-time high reached in 2021. The cryptocurrency had also lost approximately 86% of its value compared to its peak recorded in 2024.
*This is not investment advice.
