Cardano founder Charles Hoskinson proposed new initiatives aimed at investing in Bitcoin and integrating with other projects, which may impact the network's future.
Investing in Bitcoin from Cardano Treasury
Charles Hoskinson announced a plan to utilize 5-10% of Cardano's treasury funds to invest in Bitcoin. This would create a yield-generating treasury consisting of Bitcoin and stablecoins, potentially utilizing these funds for an ADA buyback program.
Integration with XRP and RLUSD
Cardano is planning to expand support for other currencies, including XRP, which will enhance DeFi offerings. The integration with XRP and the stablecoin RLUSD will unlock new opportunities for borrowing, staking, and lending, and improve inter-network compatibility.
Prospects for ADA ETF
Discussions around ETFs for some popular cryptocurrencies are gaining momentum, but the chances of ADA ETF approval have dropped to 67%. Nonetheless, the possibility of establishing an ETF for ADA remains.
Hoskinson's initiatives could open new horizons for Cardano, although questions about sustaining interest in the network remain. Investments in Bitcoin and integrations might contribute to the platform's growth and development.
