Charles Hoskinson, founder of Cardano, shared his forecasts for the future of decentralized finance (DeFi) in the Bitcoin ecosystem for the coming years.
Prospects of DeFi in the Bitcoin Ecosystem
Charles Hoskinson expressed confidence that Bitcoin-based DeFi will outshine all other crypto-DeFi within 24-36 months, attributing this to Bitcoin's scale and liquidity.
Impact on Strategic Reserves
Governments are discussing Bitcoin strategic reserves, and Hoskinson believes that its value could rise to $250,000 - $500,000 within 12-24 months due to investment inflows.
Bringing DeFi to the Cardano Network
Hoskinson outlined a new model allowing users to leverage Bitcoin in DeFi via the Cardano network. By using the Cardano-Bitcoin bridge, users can convert Bitcoin into a wrapped token, maintaining access to DeFi without losing control of their keys.
Charles Hoskinson foresees Bitcoin as a foundation for further innovation in DeFi, with its ecosystem growing through integration with networks like Cardano.
