BitBoy reaffirms that Cardano will not bring significant gains in this bull run

Well-known cryptocurrency critic Ben “BitBoy” Armstrong has once again reiterated his opinion that Cardano (ADA) is dead and unable to generate significant returns for investors in this bull cycle.

Armstrong clarified his previous statement about Cardano and Polkadot (DOT) being “dead” for institutional investors during an interview with X. He explained that calling ADA and DOT lifeless assets in the eyes of institutions does not mean that they will never see a price increase.

According to BitBoy, both tokens may see some gains in this bull cycle, but the gains will be limited compared to what he believes are blue-chip assets.

The Cardano community reacted and felt that there was an inconsistency. Notably, Armstrong’s comments suggest that institutions may already view Cardano and Polkadot as viable long-term investments, which could limit their chances of explosive growth.

However, Armstrong's latest assessment contradicts his previous bullish comments. Earlier this year, he boldly predicted that Cardano would reach a value of $11, which would bring investors profits of more than 25,00%. Currently, ADA is trading at $0.4106.

Meanwhile, BitBoy’s criticism of Cardano has not been responded to by members of the ADA community. Some questioned his objectivity and suggested that he may have other motives, such as wanting to attract the attention of influential figures such as Cardano founder Charles Hoskinson. Interestingly, Hoskinson declined BitBoy’s invitation to discuss ADA in April.

Furthermore, the co-founder of Cardano-based project NEBULA believes that Armstrong’s opinion that ADA is useless for institutions is unfounded. He stated that ADA has never needed venture capital funding to thrive, emphasizing that users run the network, not institutions.

Other community members pointed out the inconsistency in his call for the death of crypto assets. User Jude Mzr recalled how BitBoy called Solana (SOL) dead during the FTX incident in late 2020. At the time, market participants left Solana and the price of SOL fell sharply.

Jude pointed out the irony of the situation, noting that Solana has now rebounded significantly, ranking second only to Ethereum, driven by the craze caused by DeFi activity and meme coins. In this return, experts like BitBoy once again praised SOL as a worthy investment option, despite being previously dismissed by him.

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