Gate News bot message, Bitwise’s Alpha Strategy Director Jeff Park and Blockstream founder Adam Back stated that the industry may be affected by the Bitcoin (BTC) treasury bond craze.
Park stated in a post on X, “Inferior altcoins abandon their own assets to build a BTC treasury, this will not happen in my 2025 predictions. The world is recovering.”
He said this in response to the proposal made by Charles Hoskinson, the founder of Cardano (ADA), to convert 100 million ADA into Bitcoin as part of a diversification of funds.
For Blockstream’s Adam Back, Cardano’s actions will strengthen BTC and lead to a collapse in the altcoin market.
On average, since the brief altcoin season last November, the larger altcoin market has fallen 50% relative to BTC.
Source: AmbCrypto
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