The post Solana co-founder dismisses Cardano’s plan to build a BTC treasury as ‘DUMB’ appeared on BitcoinEthereumNews.com.

Anatoly Yakovenko, the Chief Executive at Solana Labs, has rejected the idea of altcoin teams like Cardano buying and holding Bitcoin for their users. The CEO explained that individuals could and should buy and hold Bitcoin alone. Yakovenko added that altcoin teams should buy low-risk assets like Treasury bills.  The CEO of Solana Labs, Anatoly Yakovenko, dismissed the plans of altcoin teams holding Bitcoin for their users. Yakovenko claimed that individuals did not require a team to invest in Bitcoin. The Solana Labs top executive explained that individuals could and should hold Bitcoin for themselves. The CEO recommended that altcoin projects buy and hold enough short-term assets, such as U.S. T-bills, to cover three years of operating expenses. Cardano plans to convert $100 million of ADA into BTC This is so dumb. Projects should keep 18-36 months of post kill list runway in short term tbills but that’s about it. Why would anyone want a team to buy and hold bitcoin for them when they can do it themselves? Why pay for all those coconuts. — toly 🇺🇸 (@aeyakovenko) June 16, 2025 Yakovenko’s comment came after Charles Hoskinson, the co-founder of Cardano, said his firm would consider converting $100 million worth of ADA into BTC and other stable assets. According to Hoskinson, the proposal wouldn’t hurt his firm’s ecosystem. The Cardano co-founder added that the plan would help grow its treasury with time through yield. Hoskinson argued that yields from BTC would help the team buy back more ADA.  Hoskinson explained that if the plan succeeded, they would continue the strategy on an annualized basis for 5 to 10 years. The Cardano executive expressed his belief that the strategy had the potential to grow to over a billion dollars. Hoskinson previously said Bitcoin did not have the right to be…

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Filed under: News - @ June 16, 2025 4:26 pm