Cardano Founder Sees Bitcoin Potential at $500K: Key Role of Institutional Adoption
nd the recognition of Bitcoin as “digital gold” will bring its value closer to the global gold market. Currently, Bitcoin’s market cap is under $2 trillion, while that of gold is more than $18 trillion.
Many are expecting the upcoming Donald Trump administration to declare Bitcoin a strategic reserve asset and accumulate 1 million BTC over the next five years. According to CNF, the Trump team is working to have a crypto czar position at the White House, with Cardano founder Charles Hoskinson eyeing an advisory role.
A significant development in Cardano’s network is its ability to integrate Bitcoin directly onto Cardano’s L1 blockchain without any intermediaries. Cardano is the first blockchain to achieve L1 BTC integration, setting it apart in decentralized finance and reinforcing its commitment to enabling secure, intermediary-free transactions.
According to an article from Crypto News Flash, Charles Hoskinson has been highly bullish about the growth of the Cardano ecosystem. In a bold prediction, he also said that Cardano could outpace Bitcoin and Ethereum.
In another development, Cardano, a Layer-1 Proof-of-Stake blockchain, has successfully launched its first Zero-Knowledge (ZK) transaction on the mainnet, utilizing Halo2 technology. Core developer Sebastian Guillemot marked the milestone by sharing the transaction hash for verification.
Please note that this article is for informational purposes only and should not be taken as investment advice. Remember to do your research and consult with financial advisors before making any investment decisions. Let’s keep an eye on the exciting developments in the world of cryptocurrency!
