Charles Hoskinson, the founder of Cardano, has predicted that Bitcoin-based decentralized finance (DeFi) will surpass all other crypto ecosystems within the next two to three years. He also made a bold forecast for Bitcoin’s price, estimating it could climb to between $250,000 and $500,000 in the next 12 to 24 months.
Bitcoin DeFi: The Next Big Thing?
In a recent YouTube video posted on November 27, Hoskinson shared his vision for Bitcoin’s evolving role in the cryptocurrency space. He emphasized the growing potential of Bitcoin in DeFi, citing its massive scale and liquidity as game-changers.
“I started in the Bitcoin space, and it’s been integral to my journey in crypto,” Hoskinson said. He acknowledged Bitcoin’s early challenges but noted its transformation over time. He described Bitcoin as “a giant that’s four times the size of Solana and Ethereum combined,” adding that Bitcoin DeFi could outpace other ecosystems within two to three years.
Bitcoin’s Strategic Role and Price Potential
Hoskinson highlighted how Bitcoin is now part of strategic discussions among governments exploring its use as a reserve asset. He explained that Bitcoin’s unique position as a “store of value for the internet” ensures its dominance in the financial world.
He projected a significant rise in Bitcoin’s value, driven by increasing institutional interest and investment inflows:
“I believe Bitcoin will reach $250,000 to $500,000 within the next 12 to 24 months,” he said, pointing to the potential of Bitcoin’s new DeFi layer to attract more users and liquidity.
Bridging Bitcoin and DeFi with Cardano
Hoskinson described a groundbreaking way to integrate Bitcoin with DeFi through Cardano. By enabling “DeFi mode,” users could bridge their Bitcoin into a wrapped token on the Cardano blockchain. This would unlock access to decentralized exchanges, yield-generating tools, and other DeFi features—all while maintaining control of private keys.
In October, a Cardano development team introduced a bridge powered by the Grail protocol. This technology facilitates the use of Bitcoin in DeFi ecosystems while leveraging Bitcoin’s unmatched security and liquidity.
With its scale and liquidity, Bitcoin is uniquely positioned to redefine decentralized finance. If Hoskinson’s predictions come true, Bitcoin’s role could expand beyond being a store of value, making it a dominant force in the DeFi space.
