Charles Hoskinson, the founder of Cardano, predicts that DeFi on Bitcoin will become the leading trend, surpassing all other ecosystems thanks to its superior scale and liquidity.
Bold forecasts from Hoskinson
In a video released on November 27, Hoskinson stated that:
• Bitcoin is 'waking up' on a scale four times larger than Ethereum and Solana combined.
• The price of Bitcoin could reach $250,000 - $500,000 in the next 12-24 months, thanks to capital flows from governments and financial institutions.
• Bitcoin is not only a store of value but can also participate in DeFi through activities such as DEX trading, generating yields while ensuring users maintain control of their private keys.
Cardano-Bitcoin ecosystem
Cardano has developed a Cardano-Bitcoin bridge based on the Grail Protocol, allowing the conversion of Bitcoin into wrapped tokens on the Cardano network. This creates an opportunity for Bitcoin to participate in the DeFi ecosystem of $ADA , without relying on centralized exchanges.
Hoskinson believes that the combination of $BTC and Cardano will foster the construction of an inclusive financial ecosystem, leveraging the security, high liquidity, and scalability of both networks.
A new era for DeFi and Bitcoin
Hoskinson concluded that Bitcoin DeFi will become the focal point of the global crypto market, ushering in a new era for decentralized finance. This innovation not only strengthens Bitcoin's position but also promotes the overall growth of the industry.
Additionally, the price of ADA - Cardano's coin, has surged over 195% in the last 30 days, particularly after rumors of Hoskinson providing legal support for the US President. This shows a great optimism from the community regarding the future of Cardano and Bitcoin DeFi.