Cardano founder Charles Hoskinson has recently repeatedly predicted Bitcoin prices, providing a bold timeline for realising.
in Interview Hosted by Bitcoin Magazine, Hoskinson highlights key technological advancements and institutional involvement to drive Bitcoin growth. He specifically cited his recent focus on integrating into Bitcoin’s Decentralized Finance (DEFI).
His comments come as other prominent figures like Cathie Wood of Ark Invest, and also expresses optimism about Bitcoin’s future.
The future of Bitcoin obligations
Hoskinson highlighted the growing importance of Bitcoin in the Defi space, primarily through Taproot, allowing for greater programmership. He explained that Cardano’s close technical integrity with Bitcoin, particularly through its extended UTXO model, positions it as a key player in Bitcoin’s future ecosystem.
Hoskinson said the Cardano proof consensus is based on the Bitcoin job proof design, but also offers a unique advantage over Ethereum’s Proofof-of-stake. This alignment will allow Bitcoin users to interact with the Cardano Network, while retaining Bitcoin Holding for transaction fees and yields, setting them apart from other blockchain ecosystems.
BTC’s timeline reaches $1 million in institutional profits
Institutional involvement is another important factor that drives Bitcoin growth. Hoskinson pointed to growing interest from major financial institutions such as BlackRock and the US government. In particular, BlackRock holds over 600,000 BTC tokens.
He said that cryptocurrency value could rise significantly if Fortune 500 companies begin to adopt Bitcoin. Hoskinson predicts Bitcoin will see a price increase of between $250,000 and $500,000 within the next two years.
He also predicted that Bitcoin could surge to $1 million by the end of the decade. To rise from the current price to $105,605 to $1,000,000, Bitcoin needs to increase by around 846.5%.
Cathy Wood’s Bitcoin Long-Term Prediction
Meanwhile, other industry leaders, like Ark Invest founder Cathie Wood, have agreed to Cardano’s bold outlook. wood projection That Bitcoin could increase in value by 15 times to $2.4 million over the next five years.
Her perspective is consistent with the notion that Bitcoin has emerged as a new asset class, providing diversification to its facility portfolio.
Wood believes the potential for Bitcoin market is enormous, especially as agencies continue to increase their exposure to cryptocurrency, following the approval of the Bitcoin Spot ETF in 2024.
Bitcoin is currently at $105,611, an increase of 0.17% over the last 24 hours and a 30% over the last 90 days.
