Charles Hoskinson predicts bitcoin’s growth to $ 1,000,000

Charles Hoskinson, the founder of Cardano ADA $0.58 Cardano -4.00% Market capitalization $21.06 billion VOL. 24 hours $71.62 million , predicted that the value of Bitcoin BTC $107,766.00 Mezo Wrapped BTC -2.29% Market capitalization $56.82 million VOL. 24 hours $1.8 billion will reach $ 1,000,000, responding to pessimistic statements by investor and gold supporter Peter Schiff. The latter called the cryptocurrency a «bubble that is about to burst,» emphasizing that the flagship of the crypto market has not been able to repeat the price records of gold or technology stocks.

Schiff stated in his post that «Bitcoin's inability to update its highs alongside gold and the tech sector is a sign of a crash coming.» He also cited the example of MicroStrategy (MSTR), whose shares have fallen 48% from their record levels in 2024, as evidence of an overheating of the crypto asset market.

In response, Hoskinson called Schiff’s statements «false and completely irrelevant,» noting that the investor made similar predictions back when Bitcoin was worth $ 100 and was wrong at all stages of its growth. «He was wrong at $ 1,000, wrong at $ 10,000, wrong at $ 100,000. And it will be wrong at $ 1,000,000,» Hoskinson wrote in X.

Despite the lack of a specific timeframe for reaching this level, the Cardano founder said he believes in the future of Bitcoin and is developing Bitcoin DeFi integration on the Cardano blockchain. His goal is to combine the security and liquidity of Bitcoin with the technological capabilities of his own network.

Expectations of Bitcoin’s growth to seven figures are growing amid analytical forecasts. In particular, Bernstein experts predict that Bitcoin will reach $ 1,000,000 per coin by 2029, citing growing institutional demand. Similar forecasts were previously voiced by Arthur Hays, Jack Dorsey, and Samson Mou. Currently, Bitcoin is trading at around $ 110,000, and analysts expect the price to exceed $ 140,000 by the end of the year.