Cardano Foundation Holds $659M Treasury – 15% in Bitcoin as Hedge

Cardano's war chest just got a blockchain audit—and Bitcoin's playing a starring role.

The Breakdown:

The Foundation's $659M reserves now include a 15% BTC allocation—call it a 'proof-of-WoW' hedge against crypto winters. Because even the most devout proof-of-stake maxis keep some digital gold in the vault.

Why It Matters:

While traditional finance still debates 'appropriate' crypto exposure, Cardano's treasury strategy reads like a middle finger to conservative asset managers. That 15% BTC slice? Enough to trigger every CFA who still thinks Bitcoin's a 'risk asset.'

The Punchline:

Smart money diversifies. Smarter money holds both the disruptor (ADA) and the OG disruptor (BTC). Meanwhile, Wall Street funds are still over here 'evaluating the space.'

As of December 31, 2024, the Foundation reported total assets of $659.1 million. Of this, 76.7% was held in ADA, 14.9% in Bitcoin, and 8.3% in cash, cash equivalents, or other financial instruments.

Cardano Foundation Releases 2024 Financial Report

The report states that staking rewards from ADA holdings accounted for most of the organization’s income last year, totaling 17.1 million ADA from 599.2 million ADA held.

The Foundation allocated $22.1 million across three functional areas—operational resilience, education, and ecosystem adoption. Another $7.1 million went toward internal operations, including governance, infrastructure, legal, and finance.

Core initiatives included support for the Chang hard fork, compatibility with the Inter-Blockchain Communication Protocol, and funding for PRAGMA, an open-source collective.

The Foundation also backed programs like the Cardano Blockchain Certified Associate and partnerships with Petrobras and Universidad Tecnológica Nacional.

In terms of adoption efforts, the Foundation reported use case pilots such as a digital ballistic ID system and a real estate registry collaboration with Tokenance and YurekAI.

The report emphasized traceability of expenditure by storing all disclosures directly on-chain. No forward-looking budget or projected ADA liquidation schedule was included.

While ADA remains the primary asset, the Foundation’s BTC position represents partial diversification into liquid and established cryptocurrencies.

Charles Hoskinson Suggests Bitcoin for Treasury

In June 2025, Charles Hoskinson proposed converting $100 million of ADA into stablecoins and Bitcoin to improve Cardano’s liquidity and support DeFi growth. He said the sale could be handled off-market to avoid price disruption.

He also suggested a sovereign-style fund managed by a governance board and third-party asset managers. This marked a shift from the 2024 treasury strategy, which focused solely on ADA holdings.

Protocol treasuries are starting to diversify beyond native tokens to manage volatility and increase liquidity options. Some networks now include BTC or stablecoins to support spending flexibility without relying solely on internal assets.

Cardano’s asset mix, and the 2025 proposal to add more external holdings, adds to this shift. It raises questions around risk control, governance structure, and transparency when treasury assets are no longer limited to a single token ecosystem.

Frequently Asked Questions (FAQs)

Bitcoin provides liquid and widely traded reserves, offering diversification outside ADA and aligning with broader multi-asset treasury trends.

Introducing bitcoin or stablecoins may require updated governance frameworks, including third-party oversight or new voting mechanisms to manage multi-asset strategies.

While many protocols hold their native tokens exclusively, Cardano has disclosed a substantial BTC position and is considering formal proposals to expand this approach.