Bitcoin's Layer-2 Integration Could Ignite Historic Bull Run, Says Former Maximalist Dan Held
Summary:
Bitcoin OG, Dan Held, predicts that the integration of Layer-2 blockchains could skyrocket Bitcoin's value. Held believes that users will soon be staking and borrowing against their Bitcoin, using Layer-2 technologies. Coupled with upcoming halvings, new Bitcoin ETF approvals, and prospective US Federal Reserve rate cuts, Bitcoin DeFi might trigger history's largest bull run. He also anticipates Bitcoin to capture a significant portion of the DeFi market soon, competing with established platforms such as Ethereum and Solana. Currently, about $2.2 billion is locked in the Bitcoin blockchain, but the sector has a potential worth of $500 billion.
Dan Held, once a staunch Bitcoin maximalist and more recently a proponent of Bitcoin layer-2 technologies, suggests that such advancements could lead the Bitcoin price to new heights. Held believes that, quite soon, users will begin to utilise their Bitcoin for staking, in order to yield returns or to borrow against, an idea he discusses in an exclusive interview with Cointelegraph. Coupled with factors such as impending Bitcoin halvings, recently sanctioned Bitcoin ETFs, and possible U.S. Federal Reserve rate cuts, Bitcoin DeFi has the potential to trigger the most massive bull run to date, Held contends.
Now publicly championing Bitcoin layer-2, which equips developers with the ability to construct smart contracts based on Bitcoin, Held anticipates Bitcoin will begin to dominate a sizeable portion of the DeFi market. Consequently, demonstrating rivalries against well-established platforms like Ethereum and Solana. "In terms of user numbers, liquidity, and longevity, Bitcoin is unrivaled," Held mentions. "For developers wanting to design an app with long-term sustainability, Bitcoin is the optimal space," he asserts.
At present, the total value locked into the Bitcoin blockchain is approximately $2.2 billion. Pantera Capital predicts a formidable potential to be up to $500 billion for this burgeoning sector. The full interview detailing the evolving Bitcoin DeFi sector, along with the potential impact on cryptocurrency's current boom, is available on our YouTube channel – remember to subscribe to stay updated!
Published At
3/1/2024 8:00:00 PM
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