In a bold prediction, Charles Hoskinson, the founder of the Cardano (ADA) blockchain, stated that Bitcoin (BTC) could soar to $250,000 as early as this year. Speaking to CNBC, Hoskinson attributed his optimism to the potential entry of major technology companies like Microsoft and Apple into the crypto space.
Cardano Founder Hoskinson Remains Bullish On Bitcoin
Despite recent volatility in the cryptocurrency markets, where Bitcoin briefly dipped below $77,000 before rebounding to over $82,000, Hoskinson remains bullish.
This fluctuation was partly influenced by US President Donald Trump’s announcement of a temporary reduction in tariffs, which he imposed at 10% for 90 days to facilitate trade negotiations.
“The tariff situation will ultimately be a non-issue,” Cardano’s founder remarked during his appearance on the “Beyond The Valley” podcast. He expressed confidence that global negotiations would progress, particularly between the US and China, allowing markets to stabilize.
The Cardano blockchain founder also foresees the Federal Reserve (Fed) lowering interest rates, which would inject liquidity into the economy and drive investment into cryptocurrencies.
Hoskinson pointed out several key factors that could propel Bitcoin’s price to unprecedented heights. One notable trend is the increasing number of crypto users, which rose by 13% year-on-year in 2024, reaching 659 million.
Major Tech Firms May Adopt Stablecoins For Global Payments
Hoskinson also highlighted the shifting geopolitical climate, where traditional treaties are becoming less effective. “In a world where great powers conflict, crypto remains a viable option for globalization,” he noted, emphasizing that cryptocurrencies could provide stability and security in uncertain times.
Another significant factor driving optimism in the crypto market is the potential passage of new legislation regarding stablecoins. The Cardano founder mentioned the Digital Asset Market Structure and Investor Protection Act, which aims to clarify the regulatory treatment of various digital assets.
Stablecoins, which are cryptocurrencies pegged to fiat currencies and backed by real-world assets (RWAs), could particularly benefit from this regulatory clarity.
Hoskinson argued that major tech companies, collectively referred to as the “Magnificent 7”—including Apple, Microsoft, and Amazon—might start utilizing stablecoins for global transactions. This could streamline payments and reduce costs, making crypto more appealing for everyday use.
Looking ahead, the Cardano founder anticipates a resurgence of speculative interest in the crypto market. He predicts that after a period of stagnation lasting approximately three to five months, a substantial wave of investment could re-enter the market around August or September.
At the time of writing, ADA trades at $0.6512, recording a 5% surge in the 24-hour time frame.
Featured image from DALL-E, chart from TradingView.com
