Cardano Founder Charles Hoskinson Says BTC Will Reach $500k in Two Years

Cardano founder Charles Hoskinson suggested in a Nov. 26 live stream that Bitcoin’s price could surge to $250,000 or $500,000 in the next twelve to twenty-four months. He says this is because governments worldwide are discussing a strategic reserve for Bitcoin and Bitcoin only.

Hoskinson said “it is my belief that Bitcoin will go to $250,000 to $500,000 within 12 to 24 months, because of inflows and interest.”

Hoskinson said governments worldwide are discussing a strategic Bitcoin reserve that will be their entry point into the crypto market. The interest will likely drive Bitcoin’s value, translating it into an ecosystem rivaling Gold.

According to Hoskinson, the sentiment will likely stay the same for the next ten to fifteen years, no matter how good other blockchains like Ethereum, Solana, and Cardano get.

“Simply put, Bitcoin is the store of value for the Internet, and it will remain that way for the foreseeable future now that it has a Decentralized Finance (DeFi) layer,” he said.

Since the US presidential elections, Bitcoin has rallied to a new all-time high of over $99,500. Meanwhile, Cardano’s ADA token has risen by 203% in the last month, according to CoinGecko.

Bitcoin ETFs have also impressed, surpassing $100 billion in total assets. They are now edging closer to Gold ETFs, which have $120 billion in total assets in less than a year since their launch.