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Charles Hoskinson Delivers a Reality Check to the Crypto Community

Cryptocurrency May 11, 2022 07:30AM ET
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© Reuters Charles Hoskinson Delivers a Reality Check to the Crypto Community

  • Charles Hoskinson shared a YouTube video on his Twitter (NYSE:TWTR) page recently, titled “A Few Musings”.
  • Hoskinson delivers a reality check on the current state of the global money system.
  • He reassured viewers that the crypto space is in the best position it has ever been, and that it grows stronger by the day.

The CEO and co-founder of Cardano (ADA) Charles Hoskinson, published a YouTube video on his Twitter page recently, titled “A Few Musings”.

Hoskinson starts off by delivering somewhat of a reality check on the current state of the global money system and says that the “world economy is not healthy”. He also talks about how in the last 20 years, there has been hyperinflation in the printing of money and that the US is in so much debt that it costs $1 trillion a year just to service their debt.

He also spoke about the dangers of inviting Wall Street into the crypto space, talking about how large institutional investors are pressured to generate 15% annual returns and how the current inflation has increased their targets to 20% per annum returns.

In addition, Hoskinson mentions how institutional investors just dump their unfavorable positions as they prioritize profits over value.

After his overview of the sinking legacy financial system, Hoskinson spoke about how he has been in the crypto space for almost a decade and shared his amazement at the constant “rhyming of attitude” seen in the space as people continue to panic during the recent crypto market crash.

He reassured viewers of the video that the crypto space is in the best position it has ever been and that it grows stronger by the day. Furthermore, Hoskinson stated that media and institutional investors do not highlight the strengths of the crypto market in times of recession or retracements.

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Charles Hoskinson Delivers a Reality Check to the Crypto Community
 

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Comments (1)
Seth Beane
Seth Beane May 11, 2022 11:15PM ET
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When all the dollars generated by people selling their crypto hits this economy we are going to see a real show. Though crypto is not really my thing, I do think it is here to stay and probably will reach higher valuationa in the not so distant future. If it doesn't get taxed to death.
 
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