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Cardano Founder: "Bitcoin Could Reach $250,000 by Year-End"

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JOON HYOUNG LEE
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  • Charles Hoskinson, founder of Cardano, stated that Bitcoin could reach $250,000 by the end of the year.
  • The possibility of the U.S. Federal Reserve's interest rate cut is cited as a major reason for Bitcoin's rise, which is expected to facilitate capital inflow.
  • Hoskinson expects the virtual asset market's bull market to start from August to September this year and mentioned the possibility of the Magnificent 7 companies adopting virtual assets.
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  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

Charles Hoskinson, founder of Cardano (ADA), speaks on a CNBC podcast on the 9th (local time). Photo = CNBC captureCharles Hoskinson, founder of Cardano (ADA), speaks on a CNBC podcast on the 9th (local time). Photo = CNBC capture

Charles Hoskinson, founder of Cardano (ADA) (pictured), claimed that "the price of Bitcoin (BTC) could reach $250,000 by the end of the year."

Hoskinson appeared on a CNBC podcast on the 10th, stating that "the tariff issue will end in failure" and "Bitcoin could rise to $250,000 by year-end."

Hoskinson believes the rise in Bitcoin's price is due to the observation that the U.S. Federal Reserve (Fed) might soon lower interest rates. Hoskinson said, "The essence of the tariff policy is a problem between the U.S. and China," and "once the market finds some stability and adapts to the 'new normal,' the Fed will lower interest rates." He added, "Then funds will be released quickly and cheaply, and those funds will flow into the cryptocurrency market."

Hoskinson predicted that the virtual asset bull market would begin in the third quarter of this year. He said, "(The virtual asset market) will stagnate for several months, then speculative demand will surge around August to September," and "(due to the surge in demand) a bullish trend could continue for 6 to 12 months."

He claimed that the 'Magnificent 7' group of major U.S. tech companies (Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, Tesla) might adopt virtual assets. Hoskinson said, "(The Magnificent 7) can pay employees worldwide or handle small transactions that incur high costs in existing payment systems with stablecoins," because "stablecoins can be transferred quickly between wallets anywhere in the world."

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JOON HYOUNG LEE

gilson@bloomingbit.ioCrypto Journalist
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