Bitcoin price to $ 500,000? This is why Hoskinson believes that

Cardano founder Charles Hoskinson sees Bitcoin (BTC) rising to $ 500,000. During a keynote on the Bitcoin conference, he outlined a future in which Bitcoin grows into a fully-fledged Defi player.

Evolution of Bitcoin: from attic room to world network

Hoskinson started his speech with a retrospective of the early days of Bitcoin. At that time, hobbyists with simple equipment could earn more than many companies today. According to him, the network now has more than 550 million participants worldwide.

Nevertheless, he emphasized that Bitcoin still sticks to three foundations: transactions are done in BTC, costs are paid in BTC, and revenues are also in BTC. That makes it difficult to add functionalities such as borrowing, acting and interest rates – things that are common in Defi.

New infrastructure for Defi on Bitcoin

According to Hoskinson, there is now technological progress that can bridge this gap. He pointed out initiatives such as Sergey Lerner’s work, Sundial and the Fairgate team. New wallet layers and modular smart contracts could drastically expand the possibilities of Bitcoin.

For example, his team at Input Output Global (IOG) works on the Cardinal protocol. This should make it possible to bring USDC to Cardano (ADA) via Bitcoin. Networks such as Litecoin (LTC) and Dogecoin (Doge) could also benefit from this.

In addition, steps are being taken to bring Defi functionalities to the XRP network. Previously, the XRP and Cardano communities crashed regularly, but Hoskinson now speaks of collaboration with Ripple. Work would be done on a math unit for borrowing and lending within XRP.

Will Bitcoin also be a Defi-Munt?

Through projects such as BitVMX-built on RISC-V architecture-Hoskinsons team works on universal tools such as Plutus and Aiken. They must make Smart Contracts compatible between different networks. The goal is clear: Bitcoin must be more than digital gold.

According to Hoskinson, this opens the door to a race of $ 500,000. His prediction sounds ambitious, but with the fast -growing infrastructure behind BTC it is not a utopia according to him.