Author: Martin Young, CoinTelegraph; Compiler: Tao Zhu, Golden Finance

Cardano founder Charles Hoskinson believes that decentralized finance in the Bitcoin ecosystem will surpass all others in two to three years Crypto DeFi.

He touted Bitcoin’s DeFi potential while making bold price predictions and highlighting a new model for bridging BTC without using centralized exchanges.

“I started getting involved in Bitcoin, and I love Bitcoin. Bitcoin has been a big part of my life, and the only reason I’m here today is because of Bitcoin,” he said in November Said in a YouTube video posted on the 27th.

He expressed dissatisfaction with the early adoption of Bitcoin, but said that "Bitcoin went from a sleeping giant in an innovation coma that would never wake up, to an awakened giant on the scale of Solana and Four times the size of Ethereum combined,” adding:

“DeFi in the Bitcoin ecosystem will surpass DeFi across all ecosystems in the cryptocurrency industry within 24 to 36 months. DeFi, and that’s just because of the scale and liquidity.”

Hoskinson also pointed out the current discussion around Bitcoin strategic reserves and said that Bitcoin itself is their entry point:

< p> “I believe that Bitcoin will rise to 250,000 to 50 million in the next 12 to 24 months due to investment inflows and the huge interest that has been generated million dollars."

"Simply put, Bitcoin is the store of value for the Internet, and because it has a DeFi layer, it will continue to play that role for the foreseeable future," he described. A new model that brings DeFi functionality to Bitcoin through the Cardano network was previously added. He describes it as the “DeFi model.”

Charles Hoskinson talks about Bitcoin DeFi. Source: YouTube

He said users can “enable the DeFi model” by bridging Bitcoin to wrapped tokens on Cardano. This enables Bitcoin holders to participate in the DeFi ecosystem, trade on decentralized exchanges, use yield-generating tools, and keep their private keys.

The development team behind Cardano announced a Cardano-Bitcoin bridge based on the Grail protocol in October.

Depending on the specifications of the underlying protocol, this bridge could be the first step in offering DeFi applications secured by Bitcoin.