Cardano founder Charles Hoskinson shared a new timeline for Bitcoin’s growth during an interview with David Lin on Wednesday. The former Ethereum co-founder dismissed short-term volatility and instead projected a bullish five-year outlook. When asked about Bitcoin’s future price, Hoskinson predicted that the leading cryptocurrency would reach a $10 trillion market cap within five years. This milestone would make Bitcoin the second most valuable asset globally, only behind gold.

Comparison With Major Assets

Currently, Bitcoin ranks seventh among the world’s most significant assets, with a value of $2.24 trillion. If it achieves a $10 trillion valuation, it would surpass tech giants like Amazon, Google, Microsoft, and NVIDIA. At that level, Bitcoin would stand just behind gold as the world’s top store of value.

Hoskinson noted that such a valuation would push Bitcoin’s price to $500,000 per coin, assuming a circulating supply of 20 million BTC ($84,523.00). From today’s price of $112,910, this represents a potential 342.8% increase.

Related article: Cardano Founder Calls Minotaur the Key to Beating 51% Attacks

Interestingly, other market leaders hold similar views with varying timelines. Binance founder CZ expects Bitcoin to reach this mark during the current bull cycle, while Standard Chartered projects the milestone within three years.

Role of Bitcoin DeFi

Hoskinson emphasized that Bitcoin’s growth will stem from decentralized finance adoption. He argued that bridging smart contracts to Bitcoin, a goal the Cardano ecosystem is pursuing, will unlock new utility and yield opportunities for BTC holders.

Related article: Charles Hoskinson Responds to Scam Risks with $100M DeFi Proposal

Currently, Bitcoin lacks native decentralised finance (DeFi) functions. Hoskinson confirmed that his team is working to change this by enabling users to generate returns on their holdings.

Hoskinson also pointed to rising adoption in the United States and accumulation by digital asset treasury firms. He highlighted sovereign wealth funds’ purchases and noted that the U.S. government currently holds 212,000 BTC. While projecting $500,000 in the long term, Hoskinson also set a nearer target. He predicted Bitcoin would reach $250,000 by the end of this bull cycle. His forecast matches other analysts, including EliteOption Trader and Greg O’Gallagher, who e

The post Charles Hoskinson Sets Bold $500K Price Target for Bitcoin appeared first on FXcrypto News.