Charles Hoskinson, the man behind Cardano and a wizard of the blockchain realm, has thrown a prediction into the crypto cauldron: Bitcoin could soar to a staggering $250,000 by the end of this year or, if the stars align, by 2026. This bold proclamation comes as the crypto market dusts itself off from recent lows, partly thanks to the chaos stirred by former U.S. President Donald Trumpβs trade tariffs and the ever-present specter of global economic doom. π©β¨
Bitcoin and the Tech Titansβ Love Affair
According to CNBC, Hoskinson reckons that the growing flirtation between Bitcoin and tech giants like Apple Inc (NASDAQ: AAPL) and Microsoft Corp (NASDAQ: MSFT) could be the rocket fuel needed to propel Bitcoin to new heights. ππ»
Hoskinson, ever the optimist, believes that some of the biggest names in tech are now dabbling in stablecoins. These firms, part of the so-called “Magnificent 7,” are reportedly exploring stablecoins for cross-border payments and even paying employees in far-flung corners of the globe. ππΈ
The Cardano founder also touched on the new digital asset regulations wending their way through the labyrinthine halls of the U.S. Congress. One such piece of legislation is the Digital Asset Market Structure and Investor Protection Act, which aims to bring some much-needed clarity to the wild west of digital assets. π€ π
A stablecoin bill is also in the works, expected to set guidelines for how these dollar-pegged tokens are backed and managed. If passed, Hoskinson believes these laws could encourage more adoption by major firms, especially those in the tech industry. πΌπ
The number of people holding digital currencies continues to grow, with recent data showing that global crypto ownership reached 560 million users in 2024. ππ
Hoskinson noted that with more people entering the space and a clearer legal framework on the horizon, confidence in the market is likely to grow. An earlier report also points to a bullish outlook for Bitcoin, with analysts predicting a $200,000 bounce based on the Mayer Multiple indicator. ππ
Global Tensions: The Unlikely Catalyst for Bitcoinβs Rise
Hoskinson also linked Bitcoinβs future to broader global events, suggesting that the world is moving away from traditional international agreements and shifting toward conflict between major powers. πβοΈ
He argued that cryptocurrencies offer a unique solution for global trade and financial exchange, especially when trust in international institutions is as low as a snakeβs belly. ππ
The recent actions by former U.S. President Donald Trump to temporarily reduce tariffs to 10% have also played a role. After Trump eased tariffs for a 90-day window to allow negotiations, Bitcoin price briefly spiked above $82,000, recovering from its new drop below $76,791. π’πΉ
Meanwhile, former BitMEX CEO Arthur Hayes stated that China may catalyze Bitcoin price breakout if the US Federal Reserve does not act in BTCβs favor. He noted that past yuan devaluations have often led to increased Chinese capital flowing into crypto markets. ππ°
It is also worth noting that the Bitcoin market is still well below its recent high of over $100,000. Even so, Hoskinson believes the situation will change. He thinks interest rates will eventually come down, making borrowing cheaper and encouraging fresh investment in crypto. ππΈ
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2025-04-10 19:08