Bitcoin, the largest cryptocurrency by market capitalization, is on track to reach a target price of $100,000 after a remarkable 33% increase over the last month, while Cardano’s founder envisions even more.

Charles Hoskinson, founder of Cardano, predicts that Bitcoin could hit a target price of $250,000 within the next two years. He asserts that this target is merely the minimum expectation, with an ultimate goal of $500,000 in sight.

In a live YouTube video posted on November 27, Hoskinson explained that various factors will drive Bitcoin’s price up in the future, including significant inflows into the cryptocurrency market and growing institutional interest in Bitcoin.

“I believe that Bitcoin will reach a quarter million to half a million dollars within the next 12 to 24 months, driven by investment inflows and the substantial interest that has been generated,” Hoskinson stated.

He emphasized that Bitcoin continues to serve as a valuable store of value on the internet, remaining relevant for decentralized finance (DeFi) in the future. The evolving DeFi landscape could allow Bitcoin to interact with the Cardano network, enabling holders to engage in the DeFi ecosystem.

Cardano’s Prospects Following Bitcoin’s Surge

Cardano, one of the leading cryptocurrencies by market capitalization, has experienced significant growth in the past month, soaring by 190% and reaching a price of $1 for the first time since its decline in 2022. In the last 24 hours, the token recorded trading volumes of $1.5 billion, although it has seen a decline of nearly 40% recently.

The market is also monitoring the potential launch of a Cardano spot ETF, following the introduction of similar products for other cryptocurrencies like Bitcoin and Ethereum. If asset management companies successfully propose the ETF version to the Securities and Exchange Commission (SEC), ADA is likely to see bullish trends in the near future.