<ul data-eligibleForWebStory="true"><li>Charles Hoskinson proposes creating a sovereign wealth fund for Cardano's DeFi ecosystem with up to $100 million worth of Bitcoin.</li><li>The proposal aims to boost ADA price by converting a portion of the treasury into assets like Bitcoin and stablecoins.</li><li>Hoskinson believes this move will not negatively impact ADA price but instead catalyze a surge.</li><li>The fund's yields will be used to buy more Cardano, replenishing what was converted to Bitcoin and other assets.</li><li>They plan to grow the fund over the next 5-10 years to become a billion-dollar treasury, stabilizing the ADA price.</li><li>This strategy aims to put Cardano on par with Ethereum and Solana in terms of DeFi activity and TVL.</li><li>A Cardano community member expressed concern over a potential negative impact on ADA price from a large sell-off.</li><li>Hoskinson reassured the community that large sales could be conducted strategically without disrupting the market, using OTC and TWAP techniques.</li><li>ADA price currently trades at around $0.64, showing a nearly 2% increase in the last 24 hours.</li></ul>

Cardano Founder Announces $100 Million Bitcoin Buy In Shocking Move To Prop Up ADA Price

Discover more