#SECAppealRipple Cardano Founder Jabs Bitcoin Maxis, Says They Worship a Guy Who Borrows to Buy BTC

Charles Hoskinson, the Cardano founder, responded to criticism from a Bitcoin advocate, challenging claims about integrity and questioning Michael Saylor’s BTC purchase practise. $XRP

Charles Hoskinson, CEO of IOG, has again found himself at the center of a heated discussion in the crypto community. This time, the debate surrounds a statement made by Chetan Kaul, a Bitcoin advocate. Kaul’s remarks, posted on X, contrasted the leadership of Bitcoin with other cryptocurrencies, leading to an exchange between him and Hoskinson.

Criticism and Community Response

For context, the conversation began when Kaul shared a post comparing Bitcoin’s ambassadors with those of other crypto projects, which he dubbed shitcoins. He stated that Bitcoin, as “high integrity money,” attracted high integrity ambassadors like Michael Saylor, while “low integrity shitcoins” attracted figures like Charles Hoskinson. 

This comment ignited responses, including from Hoskinson himself, who questioned the definition of integrity used in Kaul’s argument. Hoskinson pointed out that Bitcoin advocates often fail to explain what constitutes low or high integrity. He further criticized Saylor’s financial strategy of borrowing money to buy Bitcoin.

MicroStrategy BTC Purchase Behavior

MicroStrategy, under the leadership of Michael Saylor, has consistently positioned itself as one of the largest institutional investors in Bitcoin. The firm currently holds a total of 252,220 bitcoins as of September 20, 2024.

According to the latest data, the company made two significant purchases recently, acquiring 18,300 bitcoins for $1.11 billion on September 13, followed by 7,420 bitcoins for $458.2 million on September 20. These acquisitions bring their total expenditure to approximately $9.91 billion at an average purchase price of $39,292.18 per bitcoin.#BTCUptober $BTC