Mike Novogratz, the billion dollar Bitcoin Perma bull, is not very fond of Cardano. He describes Charles Hoskinson’s project as a “sect”.
Cardano (ADA), a sect? From Mike Novogratz’s point of view, that’s a pretty accurate description of the project. Because like from an unpublished interview with Zack Guzman, editor at Yahoo! Finance, Novogratz describes ADA as a “strange sect”.
The evaluation of projects like Cardano shocked me. […]. They created a strange sect there.
Mike Novogratz
ADA has a current market value of a whopping 49 billion US dollars (USD). In the slipstream of Bitcoin, the top 5 coin also gained a good 7 percent on Monday, June 14th. But the billionaire and CEO of the asset manager Galaxy Digital, which specializes in cryptocurrencies, apparently considers the market value to be overvalued.
Charles Hoskinson with the Cardano Honor Rescue
As expected, the swipe at ADA offended the project manager. So tweeted Charles Hoskinson, founder of the Cardano-affiliated IOHK:
Let me translate the billionaire speech here: [Mike] only shoots against Cardano here because he sees no back door for a cheap entry. […] I’ll remember that, Mike.
So the Cardano mastermind Hoskinson on Twitter.
Even if the billions valuation offers reason for doubt as to its justification, the IOHK is anything but inactive. Most recently we received the news that ADA would provide parts of the infrastructure for “Digital Ethiopia 2025”. The Cardano blockchain is to be used, for example, for recording school grades in Ethiopia. You can find out more about this here.