Bitcoin's Layer-2 Blockchain Integration Poised to Spike Value and Fuel Historic Bull Run
Summary:
Dan Held, former Bitcoin maximalist and Bitcoin layer-2 advocate, believes that integrating Layer-2 blockchains with Bitcoin could potentially surge its value. He suggests that forthcoming Bitcoin halving, recent ETF approvals, and a possible interest cut from the U.S. Federal Reserve, in conjunction with Bitcoin DeFi, could lead to an unprecedented bull run in history. Currently, there is around $2.2 billion worth of value on the Bitcoin blockchain, with a potential of growing to $500 billion.
Dan Held, a former Bitcoin maximalist and now a prominent supporter of Bitcoin layer-2s, believes that the integration of Layer-2 blockchains with Bitcoin could herald a new era of soaring Bitcoin prices. According to Held, people will start leveraging their Bitcoins for staking to earn yield and for borrowing. He shared his insights during an exclusive interview with Cointelegraph.
He suggests that the impending halving, a series of recent approvals for Bitcoin ETFs, and a potential interest rate cut by the U.S. Federal Reserve could combine with Bitcoin DeFi to trigger the most substantial bull run in history. Held previously championed Bitcoin, but he is now a passionate advocate for Bitcoin layer-2s. This technology enables the construction of smart contracts on Bitcoin, thereby enhancing the protocol's functionalities.
Held emphasizes that Bitcoin will likely seize a significant market share in the DeFi space, posing competition to established platforms such as Ethereum and Solana. With the greatest user base, liquidity, and longevity, Bitcoin is the logical choice for anyone looking to build an app for extended viability, according to Held.
Presently, around $2.2 billion worth of value is held within the Bitcoin blockchain. Panter Capital anticipates a potential $500 billion promise for this emerging sector. To learn more about the burgeoning Bitcoin DeFi sector and its possible influence on the ongoing bull run, be sure to tune into our full interview on our YouTube channel, and remember to subscribe!
Published At
3/1/2024 9:35:49 PM
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