Key Points
- Bitcoin is projected to reach a price target of $250,000 within two years, according to Cardano’s founder, Charles Hoskinson.
- Cardano’s token has seen significant growth recently, with the market anticipating a possible Cardano spot ETF.
Charles Hoskinson, the founder of Cardano, has made a bold prediction about the future price of Bitcoin. He believes that within the next two years, the world’s largest cryptocurrency by market capitalization could reach a value of $250,000.
Hoskinson’s Bitcoin Prediction
In a recent YouTube live video, Hoskinson discussed the factors he believes will drive Bitcoin’s price increase. These include a significant influx of investment into the cryptocurrency market and increased interest from institutional investors.
Hoskinson stated, “It is my belief that Bitcoin will go to quarter and half a million dollars in the next 12 to 24 months, because of the investment inflow and and the great interest that has been achieved.”
He also sees Bitcoin’s role as an internet value store as being essential for the future of decentralized finance (DeFi). He suggests that the new capabilities of DeFi could bring Bitcoin into the Cardano network, allowing holders to participate in the DeFi ecosystem.
Cardano’s Recent Performance
Meanwhile, Cardano, one of the largest cryptocurrencies by market capitalization, has also seen substantial growth. Over the past month, its token has increased by 190% and reached a price of $1 for the first time since a drop in 2022. In the last 24 hours, it was traded for $1.5 billion, representing a nearly 40% drop.
The market is also closely watching the possibility of a Cardano spot ETF. This follows the introduction of crypto product versions for other cryptocurrencies, including Bitcoin and Ethereum. If asset management pushes for an ETF version, ADA could see bullish activity in the near future.