Cardano’s Hoskinson believe Bitcoin will surpass $250,000

Bitcoin, the world’s largest cryptocurrency by market cap, is heading towards its next target price of $100,000 after surging 33% in just one month, but Cardano’s founder is pushing beyond that.

Cardano founder Charles Hoskinson predicts that Bitcoin will reach its $250,000 price target in just 2 years. He believes the target price is the lowest achievable target but $500,000 is the highest target.

Hoskinson stated that several factors will increase the price of Bitcoin in the future, including mass entry into the crypto market as well as institutional eyes taking an interest in Bitcoin in recent days, according to a YouTube live video posted on November 27.

“I believe Bitcoin will grow to a quarter and a half million dollars in the next 12 to 24 months due to the investment inflow and the huge interest generated,” Hoskinson said.

He noted that Bitcoin as a store of value for the internet will continue to be useful for decentralized finance (DeFi) in the future. DeFi mode, also known as new capabilities of DeFi, can bring Bitcoin through the Cardano network so that Bitcoin holders can participate in the DeFi ecosystem.

Cardano outlook after Bitcoin rise

Cardano, one of the largest cryptocurrencies by market value, grew by 190% last month and reached the price of $ 1 for the first time after the decline in 2022. In the last 24 hours, the token traded at $1.5. billion, or almost 40%.

The market is also considering the possibility of a Cardano spot ETF after several cryptocurrencies, including Bitcoin and Ethereum, already have crypto product versions. ADA is predicted to rise in the near future if the asset management submits its ETF version to the Securities and Exchange Commission (SEC).