In a recent social media post, Anatoly Yakovenko, the co-founder and CEO of Solana Labs, openly criticized the trend of altcoin projects using part of their treasury to purchase Bitcoin. His comments stirred up fresh debate in the crypto world, highlighting growing tension over how digital asset projects should manage their financial reserves.

Yakovenko questioned the reasoning behind a project acquiring Bitcoin on behalf of its community, describing the idea as “so dumb” and fundamentally flawed. According to him, individual investors are free to buy Bitcoin directly, and there’s no need for project teams to make that decision for them.

“Why would anyone want a team to buy and hold Bitcoin for them when they can do it themselves?” Yakovenko wrote on X. “Why pay for all those coconuts?”

His sarcastic tone and sharp wording brought attention to what he sees as a misplaced strategy—project teams holding an entirely different asset rather than supporting their own native tokens.

Financial Discipline vs. Bitcoin Exposure

The Solana executive believes that crypto projects should prioritize long-term survival through responsible financial planning. He recommends that teams hold just enough capital to cover two to three years of operational expenses. But instead of speculating on digital assets like Bitcoin, he suggests these funds be stored in stable, low-risk assets such as U.S. Treasury bills.

“Anything beyond that opens you up to unnecessary risk,” said Yakovenko. “Treasuries earn decent yield, they’re predictable, and they let you focus on building.”

His argument centers around financial prudence. Projects should have access to emergency funds that won’t fluctuate wildly with market conditions. From this perspective, putting money into Bitcoin—an asset known for its volatility—makes little sense for operational planning.

Cardano’s Charles Hoskinson Proposes Bitcoin Allocation

Yakovenko’s criticism appears to be a direct response to a recent proposal by Charles Hoskinson, the co-founder of Cardano. Hoskinson has suggested converting $100 million worth of ADA, Cardano’s native token, into Bitcoin and other stable assets.

According to Hoskinson, this approach would create a more stable foundation for the Cardano ecosystem. He believes the strategy could help preserve the project’s long-term viability, generate yield, and even replenish the ADA treasury through careful investments.

“If that program is successful, then we can continue that strategy on an annual basis,” Hoskinson noted, suggesting that yields from the Bitcoin and stablecoin holdings could be used to purchase more ADA.

Hoskinson framed this as a “strategic reserve” approach—one that uses Bitcoin’s established store-of-value reputation to strengthen Cardano’s treasury.

Analysts and the Community React

The proposal received mixed reactions. While some in the community see it as a step toward sustainability, others questioned the logic behind it.

Jeff Park, head of alpha strategies at Bitwise Investment, was among those who expressed surprise at Cardano’s shift in stance.

“Subpar altcoins ditching their own assets to build a BTC treasury was not on my 2025 bingo card,” Park wrote, reflecting confusion over why a blockchain project would choose to invest in a competitor’s currency.

Hoskinson, however, remained defiant. In a prior post, he even challenged Bitcoin’s dominance, stating that “Bitcoin no longer has the exclusive right to be considered sound money.”

“We will not allow the maxis and the Bitcoin ecosystem to take that from us,” he said.

This ideological contrast between Cardano and Solana founders is emblematic of the broader division in the digital asset world—between those who see Bitcoin as a core part of any strategy and those who believe altcoins should stand on their own.

A Larger Conversation About Crypto Treasury Strategy

As more crypto projects mature, treasury management has become a central topic. With the collapse of several projects due to poor financial oversight during past bear markets, today’s leaders are now focused on sustainability and accountability.

But the question remains: Should an altcoin project hold Bitcoin to diversify and preserve capital, or should it remain loyal to its native token?

For Anatoly Yakovenko, the answer is clear: holding Bitcoin sends the wrong message. “You’re basically saying you don’t believe in your own product,” one Solana community member commented in support of his post.

Others argue that in a world where regulation, market volatility, and community trust all play major roles, diversifying into more established assets like Bitcoin may offer a safety net.

The Debate Isn’t Over

It’s clear that the conversation around crypto treasury strategy is far from settled. Projects like Cardano, Solana, and others are not just developing technology—they’re also experimenting with economic frameworks that may influence how future companies operate in the Web3 space.

Some leaders are pushing for diversification, hedging against downturns using Bitcoin and other stable assets. Others, like Yakovenko, believe that the best approach is to double down on the project’s mission and only hold what’s needed to keep building.

The outcome of these strategies will likely become clearer over the next few years, especially as crypto adoption increases and more scrutiny is placed on how decentralized projects manage their funds.

Final Thoughts

The disagreement between Anatoly Yakovenko and Charles Hoskinson highlights a key tension in the crypto space—what is the role of Bitcoin in the future of altcoin projects?

Should altcoins rely on Bitcoin to support their financial health, or should they trust in their own ecosystems to survive and thrive?

While opinions are sharply divided, one thing is certain: the way teams manage their treasuries today will shape the future of digital finance tomorrow.