Billionaire Mike Novogratz: Cardano (ADA) Is a Weird Cult

According to Zack Guzman’s post on Twitter, Mike Novogratz called Cardano a weird cult. Zack Guzman is a senior writer and anchor at Yahoo Finance.

Based on the post, billionaire Mike Novogratz Cardano’s valuation shocks him and every developer he knows. Further, he added:

They have has done something to create this cult.

Moreover, Novogratz added that things like Cardano don’t die easily. Further, he said that these coins are like community coins. Besides, “Bitcoin gave us the idea that you could create a token, an object to connect a community together. It’s not the code anymore that’s valuable. It’s the social construct. It’s the brand,” Novogratz added.

To continue, Novogratz compared ADA to DOGE. He said that people could debate the value of Dogecoin but can’t argue against its satire.

In addition, the billionaire comments got Co-Founder of Cardano Charles Hoskinson’s attention. Furthermore, Charles Hoskinson took to his Twitter and said,

Let me translate the billionaire speak for you guys. He’s saying that he doesn’t see a backdoor to get in at a favorable price or manipulate the market like the rest of the VC coins.

“Somehow fair, transparent, community-led cryptocurrencies are “cults” I’ll remember that, Mike,” Charles noted.

According to CoinMarketCap, Cardano (ADA) is trading at $1.52 with a 24-hour trading volume of $2,503,701,730. Therefore, it means Cardano is up 5.00% in the last 24 hours.

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Source: https://coinquora.com/billionaire-mike-novogratz-cardano-ada-is-a-weird-cult/