Cardano founder says Bitcoin price will reach $250,000, supported by the implementation of the GENIUS Stablecoin Act, and the Digital Asset Market Structure.
By Godfrey Benjamin
Editor Julia Sakovich
Updated
3 mins read
Leading crypto asset Bitcoin BTC $115 951 24h volatility: 4.2% Market cap: $2.31 T Vol. 24h: $56.12 B recently hit an outstanding all-time high (ATH), but Cardano ADA $0.68 24h volatility: 8.5% Market cap: $24.48 B Vol. 24h: $1.01 B founder Charles Hoskinson has said that there is a bigger bull run ahead. Taking to X on July 11, the digital asset innovator claimed that Bitcoin could hit $250,000, spurred by the regulations surrounding cryptocurrencies like stablecoins.
He claims that the GENIUS Stablecoin Act, which first gained a 62-32 procedural vote from the US Senate, and the Digital Asset Market Clarity, aka CLARITY Act, will play crucial roles in this bold prediction.
https://twitter.com/IOHK_Charles/status/1943471085896483225
The United States Senate already passed the GENIUS Act on June 17, marking a big win for the broader cryptocurrency sector. The said bill is designed to regulate stablecoins at the federal level. Similarly, the CLARITY Act provides precise, functional requirements for crypto market participants. Customer protection is its priority while fostering innovation.
The House will consider and vote on both the CLARITY Act and the GENIUS Act during the upcoming “Crypto Week,” scheduled to kick off on July 14. Once these bills receive the required support, Hoskinson believes a “gigachad bull run” is on the horizon. In the meantime, Bitcoin is trading at $117,705.65, corresponding with a 5.84% increase over the last 24 hours.
Its 24-hour trading volume has reached $116.5 billion due to an 88.26% spike within the same period. Bitcoin market capitalization has suddenly moved from $2.21 trillion, as recorded the previous day, to $2.34 trillion. Hoskinson’s bullish prediction about the BTC price has been around for a while. Back in April, he predicted that Bitcoin could hit $250,000 by the end of this year or in 2026.
In this case, he pegged the growth of the coin on growing interest from large technology firms like Apple Inc (NASDAQ: AAPL) and Microsoft Corp (NASDAQ: MSFT). Then, in June, Hoskinson went higher in his optimistic view of the flagship cryptocurrency. This time around, he noted that Bitcoin price could hit $500,000, based on DeFi progress and the expansion of the global crypto ecosystem.
Whether $250,000 or $500,000 level for Bitcoin, the broader crypto market is enthusiastic about the prospects of a mega price rally.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
