Mike Novogratz Clarifies His Stance on Cardano

Mike Novogratz Clarifies His Stance on Cardano

Galaxy Digital CEO Mike Novogratz has set the record straight about his stance on Cardano after yet another tiff with Charles Hoskinson, the creator of the biggest proof-of-stake blockchain to date.Novogratz says that he doesn’t wish ill on the Cardano community but adds that there are better alternatives.

I have learned one thing in the past 24 hrs, Cardano has a passionate group of followers. 😉I have no position and still think there are better level one alternative bets like $LUNA and $SOL. Investors don't have to catch every trade. not wishing any ill will on team $ADA...— Mike Novogratz (@novogratz) August 16, 2021

Namely, the cryptocurrency billionaire has singled out Terra (LUNA) and Solana (SOL) as the layer-1 blockchains that he believes have the edge over Cardano.As reported by U.Today, Hoskinson called out Novogratz on Twitter after the latter once again questioned ADA's stellar surge. The former hedge fund manager inevitably became the target of the increasingly powerful community behind the fourth-largest cryptocurrency by market cap.

Solana and Cardano leading the market

Earlier today, Solana reached yet another all-time high of $67.20 and entered into the top 10. It became the first major cryptocurrency to achieve such a feat following the major market crash in the second quarter.Cardano has also been rallying hard ahead of its much-awaited Alonzo hard fork that is set to be deployed on the mainnet on Sept. 12.Bitcoin’s market dominance has now slipped to just 43.5 percent as the largest cryptocurrency is struggling to break above the $48,000 level.