Cardano founder, Charles Hoskinson, made a bold prediction at the 2023 Rare Evo conference that ADA would eventually surpass Bitcoin to become the largest cryptocurrency in the world. In a recent interview, he shared his insights on why he believes this shift will occur, with Cardano flipping Bitcoin on its way to achieving such status.
Hoskinson pointed to the current development within the Cardano ecosystem as the key factor that could lead to Cardano overtaking Bitcoin. He emphasized that if Cardano can fulfill its vision, there would be no way to beat it. He also noted that ADA has already achieved what Satoshi Nakamoto set out to do with Bitcoin, but Cardano is not stopping there.
The Cardano Founder explained that ADA is working towards changing political, social, and economic systems globally. He believes that as ADA continues to build a “growth engine” that can attract more users without losing existing ones, it will outgrow the market and surpass its competitors. Hoskinson highlighted the role of the Cardano community in this process and mentioned ongoing efforts to onboard various governments onto the Cardano network.
Additionally, he mentioned the development of decentralized applications (dApps) on the Cardano network, with teams collaborating to create impactful projects. Hoskinson stressed the importance of empowering these teams to achieve significant growth and emphasized the potential for the Cardano community to come together to surpass Bitcoin.
Hoskinson also pointed out that Bitcoin has “stalled,” which further supports his belief that Cardano can flip Bitcoin. He noted that Bitcoin’s value proposition lies in its size and success, rather than any new technology or capability. He likened Bitcoin to previous giants like Yahoo, MySpace, and Microsoft Windows, suggesting that Bitcoin’s value proposition could eventually fail as these other brands did over time.
In contrast, he argued that Cardano, with features like smart contract functionality and the potential to serve as a global voting system, is inherently more valuable than Bitcoin. Hoskinson highlighted Cardano’s progress towards becoming the preferred platform for various financial, political, and social needs, particularly with its embrace of complete decentralization through the Chang Hard Fork.
In conclusion, Hoskinson’s vision for Cardano surpassing Bitcoin is rooted in the platform’s ongoing development, community involvement, and potential to revolutionize global systems. With a focus on innovation and utility, Cardano aims to create a trillion-dollar ecosystem by attracting billions of users and outperforming its competitors. As Cardano continues to grow and evolve, Hoskinson believes that it is only a matter of time before it flips Bitcoin to become the leading cryptocurrency in the world.
