Charles Hoskinson, founder of Cardano, has reiterated his prediction that Bitcoin will reach $250,000, pointing to recent legislative measures in the US impacting the cryptocurrency market.
Hoskinson's Bitcoin Prediction
Charles Hoskinson maintains that Bitcoin will achieve a price of $250,000 due to recent legislative actions in the United States that could boost cryptocurrency valuations. He expects 'trillions' of dollars to flow into alternative cryptocurrencies.
Cryptocurrency Market Trends
Bitcoin has set a new record price above $118,000, while Ethereum has climbed back above $3,000. Other major alternative cryptocurrencies have also seen significant gains; Cardano (ADA) rose about 20% in one day, and XRP increased by 16.6%. The total market capitalization of all cryptocurrencies surpassed $3.77 trillion.
Legislation and Market Influence
Hoskinson highlighted two significant US legislative efforts: the recently passed **GENIUS Act**, which creates rules for stablecoins, and the advancing **CLARITY Act**, aimed at defining regulatory roles and protecting users holding their own digital assets.
Hoskinson's predictions about Bitcoin's future and his analytical perspective reflect confidence in the ongoing growth of the cryptocurrency market, supported by recent legislative initiatives.
