Charles Hoskinson Responds to Ben Armstrong's 'Dead Coin' Comments About ADA

Cardano Founder Charles Hoskinson responded to Ben Armstrong's comments about ADA status as a ‘dead coin’. Hoskinson’s reply sparked a conversation

Crypto influencer Ben Armstrong, also known as BitBoy Crypto, has shared his thoughts on Cardano (ADA) and Polkadot (DOT).

In a recent YouTube video, Armstrong elaborated on his previous comments, where he stated that both cryptocurrencies are dead.

To him, ADA is “dead for real,” a statement he made during an April livestream.

The crypto influencer explained that he believes this time “is different.”

To Armstrong, investors need to ask themselves whether they are okay “standing on ideals” while watching their portfolio decrease in value.

Armstrong further stated that ADA’s poor performance is due to the lack of institutional backing compared to other tokens.

In his words, “numbers go up” for tokens that are backed by institutions.

Despite ADA’s “not awful” institutional numbers, the influencer believes that the cryptocurrency cannot compete with Ethereum (ETH) or Solana (SOL).

Moreover, Armstrong highlighted that “crypto is changing,” and investors are pivoting toward new projects to feel like they are early.

In a recent X post, Armstrong reiterated his opinion on ADA and DOT, stating that both are “dead to institutions.”

However, he clarified the implications of his statement.

The token’s dead coin status does not imply that ADA and DOT will not experience price increases during this bull run.

To him, the tokens will still provide returns to investors, but they will be “mid.”

Cardano Founder Responds To Ben Armstrong’s ‘Dead Coin’ Comments, Crypto Community Joins In

Cardano founder Charles Hoskinson responded to Armstrong’s comments, questioning the crypto influencer’s stance.

To Hoskinson, Armstrong’s logic goes against the ethos of crypto.

“I remember when the point of cryptocurrencies was to replace institutions instead of acting out a scene from deliverance,” the post reads.

Armstrong’s comments sparked a conversation in the replies, with multiple crypto users expressing disagreement with his take.

One X user agreed with the Cardano founder’s reply, asking, “When did crypto become people begging for institutional investment?”

Another user stated that if Satoshi Nakamoto had shared Armstrong’s logic, the crypto industry and everyone would not be here.

“Hinging the success of a decentralized chain on centralized entities is hustling backward,” they added.

Despite the criticism, some crypto investors agreed with the crypto influencer’s comments.

A community member noted that Armstrong is at least adding content and valued entertainment into the space, in contrast to Hoskinson.

This has been a common criticism toward the Cardano ecosystem and its founder.

Cardano users defended the project, stating that the blockchain is one of the “few that haven’t lost the DeFi plot.”

Many also concurred that the ecosystem is not present for VC funds or Armstrong but for its users.

Ultimately, crypto investors agreed that if a project has a strong community and technology, more user and institutional investments “will follow the network effect.”

At the time of writing, ADA is trading at $0.3861, down by 4.4% in the last 24 hours.

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