Veteran cryptocurrency industry figure and founder of the Cardano blockchain, Charles Hoskinson, believes that with tech giants like microsoft and apple entering the crypto space, Bitcoin could surge to $250,000 as early as this year.

Amid a sell-off in risk assets triggered by U.S. President Donald Trump's imposition of reciprocal tariffs on countries worldwide, the crypto market initially suffered heavy losses. Last week, Bitcoin's price dipped below the $77,000 mark. Still, by Wednesday (April 9th), it had rebounded above $82,000 after Trump announced a 90-day tariff pause for countries that refrain from retaliatory measures, allowing time for trade negotiations.

Charles Hoskinson, who has been in the crypto industry for over a decade and co-founded the Ethereum blockchain, stated that he believes Bitcoin will reach $250,000 by the end of this year or next.

In an interview on Tuesday (April 8), Hoskinson said, "What will happen is that the tariff stuff will be a dud and that people will realize that the world is willing to negotiate... The markets will stabilize a little bit, and they'll get used to the new normal, and then the Fed will lower interest rates, and then you'll have a lot of fast, cheap money, and then it'll pour into crypto."

Despite continued optimism from industry insiders, Bitcoin remains well below its all-time high of over $100,000 set in January.

Hoskinson highlighted several factors that could drive Bitcoin's price higher.

First, he noted the growing number of cryptocurrency users. According to Crypto.com data, the number of crypto holders increased by 13% year-over-year in 2024, reaching 659 million.

Second, Hoskinson pointed to shifting geopolitical dynamics, stating that traditional treaties and global commerce are no longer functioning smoothly, making crypto the only viable alternative for globalization.

Third, he believes new stablecoin legislation (stablecoins are cryptocurrencies pegged to fiat currencies) could be enacted, along with the potential passage of the Digital Asset Market Structure and Investor Protection Act currently advancing in Congress. This bill aims to address regulatory issues surrounding various digital assets.

Hoskinson also suggested that stablecoin legislation could lead to the Magnificent Seven tech stocks embracing such assets. He added that these tech giants could use stablecoins to pay workers in different countries or facilitate microtransactions on their platforms—transactions that are typically expensive through traditional payment channels but can be executed quickly and cheaply via stablecoin transfers between wallets worldwide.

In summary, Hoskinson argued that these factors would reignite the crypto market, particularly with regulatory clarity and adoption by the Mag Seven. He predicted, "[The crypto market] will stall for probably the next three to five months, and then you'll have a huge wave of speculative interest come, probably [in] August or September, into the markets, and that'll carry through probably another six to 12 month."