Cardano founder Charles Hoskinson has claimed that ADA has bettered Bitcoin as an investment vehicle since its early days and will continue this trend.
Cardano (ADA) has increased by 91% in the past year, while Bitcoin (BTC) has surged 71% during the same period. According to Hoskinson, this outperformance has endured for several years.
In a recent interview with Jason Yanowitz, the co-founder of Blockworks, the Cardano founder stated that ADA is a “significantly better investment” than Bitcoin. He based these claims on the significant growth of the Cardano ecosystem since its early days, in comparison to Bitcoin.
ADA a Better Investment than Bitcoin: Cardano Founder
For the uninitiated, Cardano conducted its initial coin offering (ICO) in four stages, starting from September 2015 to January 2017. Hoskinson noted that Cardano held 108,000 BTC from the crowd sales after conversion from the yen currency and was one of the largest Bitcoin holders at the time.
Meanwhile, he highlighted that those Bitcoins would be worth around $12 billion in today’s market, precisely $12.8 billion, if he simply held them. However, he and his team committed the funds to creating the Cardano ecosystem, which is now one of the largest in the crypto space.
Hoskinson emphasized that Cardano’s market cap currently stands at $30 billion, about 150% higher than the $12 billion that the realized Bitcoin stash is worth now. He noted that this suggests that Cardano has outperformed Bitcoin by a factor of approximately 2.8. As a result, ADA is a significantly better investment than BTC.
Furthermore, ADA’s price trajectory in comparison to Bitcoin further paints the picture. For context, Cardano has surged 3,900% from its launch price of $0.02 in September 2017, while Bitcoin has posted a 2,410% rally from its opening price of $4,337 in the same timeframe.
Cardano to Continue Outperforming Bitcoin
When asked if this trend would continue, Hoskinson nodded in agreement. He noted that the best-case scenario for Bitcoin is a 10x rally to $1 million. According to him, the difference in what is potentially possible for Cardano compared to Bitcoin is probably a 10x to 100x growth, suggesting that ADA has between 100x and 1,000x growth prospects.
Meanwhile, he cited Cardano’s potential to become a Bitcoin DeFi layer and ecosystem developments, such as Midnight, as catalysts for this bullish ADA outlook. Notably, a 100x and 1,000x growth for Cardano would make it a $2.8 trillion and $28 trillion asset, respectively.
Remarkably, Hoskinson also provided an update on the NIGHT airdrop, noting it would happen in the second half of this year. He also predicted that the NIGHT token could grow to become a $10 billion project after its launch.
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