Charles Hoskinson Predicts Bitcoin Could Soar 436% In Two Years

Charles Hoskinson, founder of Cardano, predicts the price of Bitcoin will skyrocket in the next few years. (Photo; Doc. TrueBitcoiner)

JAKARTA - Cardano's (ADA) blockchain founder, Charles Hoskinson, expressed his optimism for the future price of Bitcoin (BTC). According to Hoskinson, Bitcoin has the potential to surge to 436% from its current level in the next two years, driven by rising demand from various sectors.

"I believe Bitcoin will rise to the range of 250,000 US dollars to 500,000 US dollars in the next 12 to 24 months, as the flow of investment continues to flow and growing interest. This will create an ecosystem whose value is starting to approach gold, an asset that humans have used as a store of value for more than 5,000 years," Hoskinson said.

Hoskinson added that Bitcoin, which he considers a store of value for the internet, will maintain this position in the future. According to him, demand will be even stronger, especially with the potential application of DeFi (decentralized finance) and the government's role in increasing the value of Bitcoin.

With the Taproot upgrade, Bitcoin has transformed from a'sleeping mass' that has almost no innovation, to a giant that is now four times bigger than Solana and Ethereum combined, he said. Taproot is an update launched in November 2021, which aims to increase the capabilities of smart contracts and Bitcoin efficiency.

Hoskinson also stressed that if DeFi in the Bitcoin ecosystem expands, within the next 2 to 3 years, the DeFi value in Bitcoin will surpass DeFi in all other crypto ecosystems, thanks to Bitcoin's scale and liquidity.

According to Hoskinson, the more countries are starting to pay attention to Bitcoin as a strategic reserve, the stronger the role of Bitcoin in the global financial ecosystem in the future.