Charles Hoskinson, a prominent entrepreneur and mathematician, is renowned for co-founding Ethereum and creating Cardano. Earlier this week, during a livestream, he shared his thoughts on bitcoin’s future. Despite leading Cardano’s development, Hoskinson remains a devoted advocate for bitcoin (BTC), expressing confidence in its potential to achieve a six-figure valuation.
“As good as Ethereum can be, Solana can be and Cardano can be, lets be intellectually honest about this, governments are talking about a strategic reserve for bitcoin and bitcoin alone,” Hoskinson told the livestream attendees. “It’s their entry point. Perhaps in five, ten, and fifteen years, that dialogue or narrative will change but it is my belief that bitcoin is going to go to a quarter of a million to half million dollars within the next 12 to 24 months.”
Hoskinson further explained why this was happening, stating:
Because of the investment inflows and the great interest that has been achieved. This will translate to an ecosystem whose value is starting to approach that of gold.
Cardano’s creator elaborated further, pointing out that gold has served as a store of value for over 5,000 years, and bitcoin is now drawing comparisons to this ancient asset. “Simply put, bitcoin is the store of value for the Internet,” Hoskinson said. He expressed confidence that bitcoin will continue to fulfill this role, especially now that it has a decentralized finance (defi) layer. His mission, he explained, is to ensure Cardano, as a “spiritual successor,” stays relevant in this evolving narrative.
Hoskinson firmly believes his work is creating the ideal platform for applications that can operate seamlessly in both Bitcoin mode and Cardano mode. He shared that this vision is the driving force behind his team’s enthusiasm for certain Bitcoin-focused defi projects.
Hoskinson’s insights paint a compelling picture of bitcoin’s evolving role in the global financial ecosystem. His dual commitment to fostering innovation in Cardano while championing bitcoin’s potential highlights a broader narrative of coexistence in cryptocurrency. As bitcoin’s value proposition aligns more closely with traditional stores of value, its trajectory may redefine perceptions of digital assets worldwide.
