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

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."