Charles Hoskinson says he once held 108,000 bitcoin, touts Cardano DeFi

Charles Hoskinson said he previously held 108,000 bitcoin through Cardano’s early crowdsale.

On Aug. 31 local time, blockchain outlet The Crypto Basic reported that Hoskinson argued his long-standing connections within the bitcoin network could be a strength for Cardano’s bitcoin decentralised finance (DeFi) strategy.

Hoskinson recently appeared on the podcast “The Breakdown” and said he was once among the world’s largest bitcoin holders. He said the large holdings formed as he converted funds raised in Japanese yen in Cardano’s early crowdsale into bitcoin. At the time, bitcoin traded at about $250, putting the value of 108,000 bitcoin at about $27 million.

It has not been confirmed whether Hoskinson personally, or entities tied to the Cardano project, still hold those bitcoins. Hoskinson recalled the period as a “frenzied time” and mentioned discussing the size of his holdings with BitGo Chief Executive Mike Belshe (마이크 벨시).

Hoskinson said the key point was his network within the bitcoin community, rather than his past holdings. He said his deep involvement in the early bitcoin ecosystem led to relationships with major holders, and that those links could help bring bitcoin liquidity to Cardano. He said bitcoin holders could allocate funds to DeFi if they were offered attractive and trustworthy yield opportunities.