Charles Hoskinson, the creator of the Cardano (ADA) blockchain, has expressed a highly optimistic outlook for Bitcoin (BTC), predicting a dramatic rise in its value over the next couple of years.
He believes Bitcoin could soar by as much as 436%, reaching between $250,000 and $500,000 within 12 to 24 months, driven by increasing investor interest and adoption.
Hoskinson envisions Bitcoin becoming a digital counterpart to gold, a role humanity has relied on for millennia as a store of value. In his view, Bitcoin is uniquely positioned to serve as the internet’s primary store of value, a status he expects it to maintain well into the future.
He also highlights potential catalysts for Bitcoin’s growth, including its integration with decentralized finance (DeFi) applications and increasing government interest. Hoskinson suggests that the Taproot upgrade, which significantly improved Bitcoin’s smart contract functionality, has transformed the network from a dormant powerhouse to a thriving ecosystem.
He believes this shift positions Bitcoin to dominate DeFi, outpacing platforms like Ethereum, Solana, and Cardano itself within the next two to three years.
Hoskinson further notes that discussions among governments regarding Bitcoin as a strategic reserve asset underscore its growing significance. According to him, this development cements Bitcoin as the primary entry point for institutions and nations into the crypto market.
The Bitcoin market is entering a complex phase marked by rising realized profits, reduced whale balances, and historically prolonged sideways price movement.
European banking giant UniCredit is preparing to offer its professional clients a new investment product linked to BlackRock’s spot Bitcoin ETF (IBIT), according to a report by Bloomberg.
Connecticut has officially distanced itself from government adoption of digital assets like Bitcoin. On June 30, Governor Ned Lamont signed House Bill 7082 into law, placing sweeping restrictions on how the state and its agencies can engage with cryptocurrencies.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.