Charles Hoskinson, the founder of Cardano, has forecasted that Bitcoin could hit $250,000 by the end of this year or next. In an interview with CNBC, he attributed his positive outlook to various factors, including the increasing adoption of cryptocurrency, U.S. legislation concerning stablecoins, and the participation of major tech firms. He also noted that while the market might experience a slowdown over the next three to five months, he anticipates that speculative interest will drive prices upward in late summer or early autumn for the subsequent six to twelve months.
Hoskinson’s remarks come as Bitcoin is rebounding from a significant drop below $77,000, which was triggered by global uncertainty following former U.S. President Donald Trump’s tariff announcements. The volatility surrounding these tariffs unsettled both traditional markets and cryptocurrencies. However, Trump’s move to temporarily reduce the tariff rate alleviated some concerns, allowing Bitcoin to rebound above $82,000. Nevertheless, Bitcoin remains nearly 24% down from its January peak of $108,786.
Despite the tariff situation, Hoskinson views it as a minor concern in the long term, asserting that the global market would stabilize once the trade disputes between the U.S. and China are resolved. He believes that geopolitical tensions in Eastern Europe, along with issues concerning China and Taiwan, have reinforced the necessity of cryptocurrency as a global solution. “Treaties don’t work effectively, and global business faces challenges in that context,” Hoskinson remarked, underscoring that cryptocurrency may be the only viable means for business globalization.
In addition to his market predictions, Hoskinson expressed optimism about regulatory advancements in the U.S. that could help advance the crypto sector. The GENIUS Act and the STABLE Act, both of which are progressing through Congress, aim to establish clear regulatory frameworks for stablecoins, a move that could encourage tech giants like Apple, Microsoft, and Amazon to embrace cryptocurrency solutions. He also highlighted the Digital Asset Market Structure and Investor Protection Act as a crucial piece of legislation that could provide a clearer structure for crypto assets in the United States.
Hoskinson pointed out that cryptocurrency adoption is growing, with Crypto.com reporting a 13% increase in global crypto users year-over-year, totaling 659 million. With more institutional players entering the market and governments and corporations increasingly turning to cryptocurrency for globalization, Hoskinson maintains a bullish outlook on Bitcoin’s future. He expects market stabilization, a decrease in interest rates, and increased liquidity, all of which could further enhance the potential of cryptocurrencies.
