Cardano Founder Dismisses BitBoy's 'ADA Savior' Claims, Hints at Institutional Interest

Coin WorldThursday, Feb 27, 2025 4:14 pm ET
1min read

Cardano founder Charles Hoskinson has downplayed the claims of crypto influencer Ben Armstrong, also known as BitBoy, who recently asserted that he single-handedly saved the ADA project from extinction. In a series of tweets, Hoskinson expressed gratitude towards BitBoy's efforts while hinting at renewed institutional interest in Cardano.

BitBoy, in a livestream, claimed that his use of reverse psychology contributed to renewed institutional interest in Cardano. He alleged that by claiming the network was dead, institutional investors flooded the ecosystem in a bid to prove him wrong. "I have singlehandedly saved the ADA project," BitBoy stated during the livestream.

Hoskinson, in response, posted a video on X thanking BitBoy for his efforts. With a smirk, he said, "We're very excited and glad that you've gotten what you needed to get BitBoy. Thank you for the kind words about Cardano." The Cardano founder's reaction suggests a mix of appreciation and amusement towards BitBoy's claims.

In recent months, institutional interest in Cardano has soared. After years of claims that the network had zero institutional interest, institutions are now wading into the ecosystem. There are whispers of Hoskinson meeting with a VIP in Florida, triggering speculation for a massive announcement in the offing. On-chain analysis reveals a steady accumulation, signaling a potential ADA bullish run to previous highs. At the moment, ADA is trading at $0.6 with a market capitalization of $22.95 billion as ecosystem activity surges.