Following the US elections, the leading crypto Bitcoin reached the 100 thousand dollar limit in a short time. Although it has been fluctuating between $93,000 and $97,000 for a while, analysts say it still has a long way to go. Some famous names in the crypto world also expect very high prices for Bitcoin. One of them is Cardano inventor Charles Hoskinson. Hoskinson is bullish on Bitcoin and expects a price of 5X. And when?
5X Bitcoin prediction from Cardano inventor!
As you follow on Kriptokoin.com, the excitement in the market is increasing. As Bitcoin moves towards 100 thousand dollars, interest is shifting to altcoins. However, expectations are also high for the leading crypto. Cardano inventor Charles Hoskinson says that Bitcoin will skyrocket up to 436% from its current level in two years. According to the Cardano founder, Bitcoin’s rise will be fueled by increasing demand. In this context, Hoskinson makes the following statement:
I believe that due to the investment inflows and the huge interest generated, Bitcoin will go to $250,000 to $500,000 in the next 12 to 24 months, which will translate into an ecosystem whose value starts to approach that of gold, an asset that people have been using as a store of value for over 5,000 years. Simply put, Bitcoin is the internet’s store of value and will continue to be for the foreseeable future.
Bitcoin is now a sleeping giant!
The Cardano founder says that in Bitcoin, governments and decentralized finance (DeFi) can serve more as catalysts of demand for Bitcoin. According to Hoskinson, this basically means that you can create a DeFi layer for Bitcoin and pay transaction fees in Bitcoin… According to Hoskinson, before the Taproot update, Bitcoin was a sleeping giant in an innovation coma and never woke up. However, it has now turned into a waking giant four times the size of Solana and Ethereum combined. In this regard, the Cardano inventor makes the following statement:
The truth is, if these floodgates open, I believe that DeFi in the Bitcoin ecosystem will eclipse DeFi in all ecosystems in the cryptocurrency industry within 24 months to 36 months. And the reason for that is scale and liquidity. No matter how good Ethereum is, no matter how good Solana is, no matter how good Cardano is… let’s be intellectually honest about this, governments are talking about a strategic reserve of Bitcoin and only Bitcoin. That’s their entry point.
Meanwhile, the Taproot upgrade, designed to improve Bitcoin’s smart contract capabilities and efficiency, was activated in November 2021.
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