Cardano’s founder criticizes market analysts who think Cardano is nothing more than “religion.”
Charles Hoskison, CEO of IOG, the firm that created the Cardano proof-of-stake blockchain, took to Twitter to answer to critics who allege that Cardano lacks the technology and only provides religion to its community. They further allege that “big investors” are not interested in Cardano.
In a recent episode of the “Crypto Banter” podcast, several experts came together (founder of Messari Ryan Selkis, managing partner at Dragonfly Capital Haseeb Qureshi, and Avichal Garg – a managing partner at Electric Capital, serial entrepreneur and an angel investor).
The podcast was hosted by host CNBC crypto trader Ran NeuNer, who founded “Crypto Banter.” In the video extract published on Twitter by user @StakeWithPride, Haseeb Qureshi stated that “all big smart money investors” do not think about Cardano.
“They don’t spend time on it, and they don’t investigate it.”
Considering the question of why these people allegedly do not think about the biggest proof-of-stake blockchain and its native token ADA, he then shared his belief that crypto is “a combination of technology and religion.”
However, he is concerned about Cardano since he does not see a lot of development effort or venture capital money in it. He also mentioned that he does not expect to see many projects launched on the blockchain.
Hoskison replied to the video by declaring that because Cardano is solely about religion and not technology, all development teams should go. He should close all academic research institutions and dismiss hundreds of IT experts.
As mentioned earlier by CoinCu, shark and whale crypto addresses purchased $138 million worth of ADA in mid-June following the massive price drop. About $80 million in ADA was also purchased in early July.
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