Hoskinson denied promising ADA price appreciation or Bitcoin dominance, arguing that describing Cardano's potential was never a guarantee. Cardano's five-era roadmap, from Byron to Voltaire,
Cardano founder Charles Hoskinson has rejected investor demands for higher ADA prices, saying he never promised token appreciation or Bitcoin dominance. During a recent YouTube AMA, Hoskinson defended his record, declaring Cardano's original roadmap complete. His comments came as ADA traded near $0.17, more than 94% below its 2021 all-time high.
Hoskinson responded to criticism from an investor who claimed he had promised Cardano would overtake Bitcoin. He denied making that commitment, explaining that expressing a possibility never guaranteed the outcome.
Hoskinson said he had previously described Cardano as potentially becoming the world's largest cryptocurrency. However, he stressed that he never promised such an outcome or price appreciation.
The founder also argued that some investors expected him to increase ADA's market price. He questioned when a founder's responsibility toward investors should end, given their differing purchase prices and expectations.
Hoskinson said everything he committed to building had been delivered. He added that Cardano now operates through self-governance without depending on his involvement or approval. Cardano's development roadmap covered five eras: Byron, Shelley, Goguen, Basho, and Voltaire.
Byron launched in September 2017, followed by Shelley in July 2020. Goguen introduced smart contracts through the Alonzo upgrade in September 2021. Subsequently, Basho advanced scaling through the Vasil upgrade in September 2022.
Voltaire introduced on-chain governance through the Chang hard fork in September 2024. The Plomin hard fork followed in January 2025, giving ADA holders voting power over the network's future.
Hoskinson said the network can now select its leaders and determine its direction independently.
ADA reached an all-time high of $3.09 in 2021 before entering a prolonged decline. The token fell to $0.25 in 2023 before recovering 384% to $1.21 by late 2024. However, ADA subsequently lost approximately 86%, reaching around $0.17. This leaves the token more than 94% below its 2021 record.
Hoskinson argued that investor expectations continually change with purchase prices. He said demands for further price increases create an ongoing expectation that founders must support token valuations.
