In a recent live stream on YouTube, Charles Hoskinson, founder of Cardano and co-founder of Ethereum, shared his opinion on the importance of bitcoin, saying that it is the most significant invention of the last hundred years.
Hoskinson also highlighted the cryptocurrency’s recent valuation and its growing market cap, adding that “Trillion-dollar Bitcoin means, it is a reality. It’s an inevitability. It’s gonna happen.”
This comes after Bitcoin hit new ATHs and witnessed an increasingly wider acceptance. On February 21st, BTC’s market cap surpassed $1 trillion after its price had reached $57,000. The BTC hash rate also hit a new ATH on February 9th, reaching 165.86 TH/s. The recent surges and records have turned BTC into the sixth most valuable asset in the world.
In his recent video streaming, which took place on February 19th, Hoskinson also stated that the concept of wealth had gone through effective changes and that Bitcoin had played a major role in this outcome.
Although the BTC hash rate has dropped in the last few days, and at the time of writing, Bitcoin trades at $52,812, the crypto market seems to be optimistic about the cryptocurrency’s future. Drawdowns are not unusual after a new ATH is reached, yet such a correction is less likely to affect Bitcoin’s current popularity.
The previous bull cycles did bring a significant drop in the value following the bull run peaks, but now it’s different as the interest in crypto is greater and the crypto market benefits from increased capital and awareness, which helps contour an optimistic view on the future of Bitcoin.