Cardano founder Charles Hoskinson disclosed that he has incurred over $3 billion in unrealized losses on his personal cryptocurrency portfolio amid the ongoing decline in crypto prices, with Bitcoin (BTC) plummeting to as low as $65K — its lowest price since October 2024. However, he made clear that he is not cashing out. During a public livestream from Tokyo on Feb. 5, Hoskinson said his crypto stash had depreciated by over $3 billion in paper value, noting that cashing out and walking away would have been easy, but he did not pull the plug.
He stated that he had lost more money than anyone listening, over $3 billion, and that walking away would have been easy, but he chose not to cash out. He argued that losing billions does not change his commitment to the project and urged developers and investors not to lose hope.
According to Hoskinson, investors face a clear choice: endure market downturns in a decentralized system, or retreat to one he says is controlled by corrupt forces. He addressed cryptocurrency holders considering exiting the market, asking what alternative they would return to. He pointed to what he described as a corrupt financial system that destroys wealth by 5–10% yearly through inflation, while advances in artificial intelligence pose risks to employment. Hoskinson predicted that the latest selloff could deepen in the coming days or weeks, urging developers and investors not lose hope.
“It’ll get worse. It’ll get redder. It is what it is. But at the end of the day, are you having fun? Find a way to. And know that each and every one of you in the cryptocurrency space, you’re doing something that matters,” he postulated.
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