Solana Lianchuang: Cardano's plan to convert $100 million ADA to bitcoin is "stupid"

On June 16, Solana co-founder Anatoly Yakovenko publicly opposed Cardano's proposal to sell $100 million of ADA to buy bitcoin and stablecoins, calling the decision "too stupid". Yakovenko said that the project party only needs to hold 18-36 months of short-term government bonds as emergency funds, questioning "why hold bitcoin for users".
The controversy stems from a June 14 proposal by Cardano founder Charles Hoskinson to enhance the liquidity of his DeFi stablecoin. The community is concerned that a large-scale sell-off of ADA will hit the price of the currency. Hoskinson argues that the market depth is deep enough to absorb the selling pressure, and points out that the current stablecoin on the Cardano chain is only $33 million, which has endangered the ecological development.