Will $1,000 in Cardano make you a millionaire if SEC Charles Hoskinson’s predictions are right?

Will $1,000 in Cardano make you a millionaire if SEC Charles Hoskinson's predictions are right?

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The US Securities and Exchange Commission (SEC) describes Cardano (ADA) as a security that was illegally sold in the United States. This puts the price under pressure, but Cardano founder Charles Hoskinson disagrees and remains bullish. But: Can $1,000 in Cardano really make a millionaire if Hoskinson is right?

Are you a millionaire with Cardano for $1,000?

Where is Cardano headed? The cryptocurrency, which competed as Ethereum, is currently trading as low as it was in January 2023 – all the gains from last year’s bull run. Even more: The asset is seen to be in a precarious state at the moment – the US Securities and Exchange Commission (SEC) describes ADA, along with some other coins such as Solana (SOL) or Ripples XRP, as a “security” , ie as a security – so Cardano is without one in the US the necessary license has been sold!

The result: Cardano crashes. And huge. -31% in the last month, -21% in the last week, -6% in the last 24 hours. Investors are concerned: If Cardano is or has been permanently banned in the US and investors located there can no longer buy in the future – what does that mean for the future prospects of the coin? Cardano course falls to 0?

Amidst this bearish mood, Cardano founder Charles Hoskinson has spoken out – and he’s combative. The programmer contradicts the accusations of the SEC, even more: he considers them baseless, instead he feels an anti-encryption strategy by the government. Hoskinson:

“The ultimate goal is a CBDC (Central Bank Digital Currency) based on the agenda that works with a handful of big banks and controls every aspect of your financial life from end to end.”

According to Hoskinson, all this is “nothing new” but “the same struggle between freedom and authoritarianism, only with different actors, technologies and words.” This event appears to be a great opportunity for the entire industry to “do something of its own. a set of rules and guidelines to overcome and support common sense”.

Is Cardano an illegal security?

And anyway: Cardano illegal security? Not at all. Hoskinson points out that ADA was not sold at all in the US and that the original funding in Japan was through vouchers – vouchers that were later converted to ADA. Founder of Cardano:

“I’ll say more about that later, but I want to end by saying that everything will be fine. Everything is fine and the future of the industry is bright.”

So the course is set, but can Cardano really turn investors into millionaires – with an investment of just $1,000? Quick calculation: 1 ADA currently costs 0.26 dollars. So for $1,000 you get around 3846 Cardano. To become a millionaire, Cardano would have to rise to $260.

Although it is not impossible, it is very likely: even if Cardano (ADA) reaches the market cap of Ethereum (ETH), ADA will only be $5.63. The $1,000 investment was still worth $20,614 – but it’s far from a million (if you want to get started: Buying Cardano with PayPal is a practical option). But there are attractive alternatives that offer better risk-return potential. One of the hottest ones right now: the new Wall Street Memes (WSM) meme base. What does the project have to offer?

Wall Street Memes – Meme platform launches its own cryptocurrency for the first time

7.12 million dollars, and rising: The new cryptocurrency Wall Street Memes (WSM) has been receiving huge investor capital for weeks and is now moving towards the next milestone.

Jacob Bury’s Crypto Impact Commentary: This may be the best meme coin to invest in right now – he believes at least 10x is possible!

The slogan of the cryptocurrency: “Greed is good”! With this, WSM wants to reach a market capitalization of at least 1 billion – and it seems to be optimally placed to achieve this goal: on social media such as Twitter, TikTok, Telegram and Co., there is more than 1 million people already follow the platform, and even Elon Musk has already expressed his endorsement.

And compared to Cardano (ADA), which is facing legal troubles and loss of investor confidence, Wall Street Memes scores with ambitious intentions and an exciting risk-reward ratio.

Because: Wall Street Memes (WSM) benefits from its close connection with the WallStreetMemes community, which analysts say leads to greater market acceptance and supports the price in the long term. So for those interested in potentially explosive meme coins: Wall Street Memes (WSM) is already being traded behind the scenes as the next Pepe Coin (PEPE) could bring huge returns without much capital investment! But, as is often the case: do extensive research yourself before deciding for or against investing in cryptocurrency.

Last updated on June 15, 2023

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