Founder of IOG, the company behind Cardano, Charles Hoskinson has published a tweet, responding to Raoul Pal’s criticism of ADA and XRP.
The renowned investor and Real Vision founder stated that the time of XRP and ADA has passed, hinting that Hoskinson and Brad Garlinghouse are making money by being on top of the cults made by these coins.
XRP and ADA are nothing but old cult, Pal claims
Hoskinson shared a tweet with a video extract where Raoul Pal talks about XRP. He says in it that this top cryptocurrency is basically outdated, it is “from two bull markets ago.” “You might love it forever but just please move somewhere where the strong momentum is,” he added.
So @bgarlinghouse, when are we going to the Secret Cult meetings? I never got the memo from Raoul https://t.co/Q9NBEoBcfs
— Charles Hoskinson (@IOHK_Charles) August 21, 2024
Pal also said that investors should not miss a new bull market, betting on a coin of the past, thinking that it will shoot high this time. He believes that fans of XRP are “in a cult” and “cults don’t make money, except for the leaders.” Average investors cannot make money here, he pointed out.
Pal then concluded that apart from XRP, there is also ADA and a bunch of other coins, which are also “cults.” He admitted that his words may hurt investors in these coins and he said he does not want to be attacked online about this but still he decided to break this message to the crypto community.
Charles Hoskinson tagged the Ripple chief executive, asking: “So @bgarlinghouse, when are we going to the Secret Cult meetings?” He added that he was never able to understand that criticism coming from Raoul Pal.
Hoskinson: Elon Musk may hold 20% of DOGE supply
Earlier this summer, Hoskinson took part in a podcast, where he talked about X owner and CEO of Tesla Elon Musk and his inexplicable love for Dogecoin in particular. Speaking with respect to the serial tech entrepreneur, the Cardano founder admitted that it is impossible even to try to guess why Musk has “this bizarre fetish for Dogecoin”.
Hoskinson suggested that perhaps Musk owns a large amount of this original and iconic meme cryptocurrency, like 20% or so of its circulating supply. On the other hand, Hoskinson said, Musk may simply like the DOGE mascot.
