Ethereum

Cardano

Grail

DeFi

Bitcoin

Cardano founder Charles Hoskinson said decentralized finance in the Bitcoin ecosystem will eclipse all other crypto DeFi within two to three years.&nbsp;
He touted the potential for Bitcoin DeFi while making a bold price prediction and highlighting a new model for bridging Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="nofollow noopener" target="_blank" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) without using centralized exchanges.&nbsp;
“I started in the Bitcoin space and I loved Bitcoin. Bitcoin has been a big part of my life and the only reason I’m here today is because Bitcoin exists,” he said in a YouTube <a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=1qh7PlT2tq4" rel="null" target="null" text="null" title="null">video</a> posted on Nov. 27.&nbsp;
He voiced frustrations with using Bitcoin in the early days, saying: “Bitcoin went from a sleeping giant never to awaken in an innovation coma, to an awakened giant that is four times the size of Solana and Ethereum combined.” He added: 
<blockquote>
 “DeFi in the Bitcoin ecosystem will eclipse DeFi in all ecosystems in the cryptocurrency industry within 24 months to 36 months, and that’s just because of scale and liquidity.”
</blockquote>
Hoskinson pointed to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-administration-defi-bitcoin-staking-2025" rel="null" target="null" text="null" title="null">discussions</a> that governments are having about Bitcoin strategic reserves, saying:
“It is my belief that Bitcoin is going to go to $250,000 to $500,000 within the next 12 to 24 months because of the investment inflows and the great interest that has been achieved.&nbsp;
“Simply put, Bitcoin is the store of value for the internet, and it will remain in that role for the foreseeable future now that it has a DeFi layer,” he said, before describing a new model for bringing DeFi capabilities to Bitcoin through Cardano’s network, which he described as “DeFi mode.”
<figure>
 <img alt="Cardano" src="https://s3.cointelegraph.com/uploads/2024-11/0193758d-fa97-7a7a-95c4-67c0aa78a6a3" title="">
 <figcaption style="text-align: center;">
 Charles Hoskinson speaking about Bitcoin DeFi. Source: <a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=1qh7PlT2tq4" rel="null" target="null" text="null" title="https://www.youtube.com/watch?v=1qh7PlT2tq4">YouTube</a>
 </figcaption>
</figure>
Users can “enable DeFi mode” by bridging their Bitcoin to a wrapped token on Cardano, he said. This allows Bitcoin holders to participate in <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/defi-101" rel="null" target="null" text="null" title="null">DeFi</a> ecosystems, trade on decentralized exchanges, use yield-bearing instruments and maintain custody of their private keys.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/shifting-bitcoin-from-digital-gold-to-a-defi-powerhouse-through-innovation" rel="null" target="null" text="null" title="null">Shifting Bitcoin from digital gold to a DeFi powerhouse through innovation</a>
A Cardano-Bitcoin bridge based on the Grail protocol was <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cardano-integrates-bitcoin-os-to-enable-trustless-btc-in-de-fi-apps" rel="null" target="null" text="null" title="null">announced</a> by a development team backing Cardano in October.&nbsp;
The bridge may be a first step toward providing DeFi applications that are secured by Bitcoin, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cardano-bitcoin-bridge-btc-defi" rel="null" target="null" text="null" title="null">according</a> to the underlying protocol’s specifications.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/based-rollups-make-ethereum-feel-ethereum-again/" rel="null" target="null" text="null" title="null">Make Ethereum feel like Ethereum again: Based rollups explained</a>

Cardano founder predicts Bitcoin DeFi will dominate crypto within 3 years

Cointelegraph

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