Dan Held, a Bitcoin OG and former maximalist, believes that integrating Layer-2 blockchains on top of Bitcoin could unleash Bitcoin’s true potential and drive its price to unprecedented levels. In an exclusive interview with Cointelegraph, Held stated that people will start locking up their Bitcoin, staking it to earn yield, and even borrowing against it. Held is optimistic that Bitcoin DeFi, combined with the upcoming halving, recent Bitcoin ETF approvals, and a possible interest rate cut by the U.S. Federal Reserve, could ignite the largest bull run in history.
Held, who was once a Bitcoin maximalist, has now become one of the most outspoken proponents of Bitcoin layer-2s. These layer-2 solutions enable developers to create smart contracts on the Bitcoin network, expanding its capabilities. According to Held, Bitcoin will soon establish a significant presence in the DeFi market, competing with established platforms like Ethereum and Solana. He highlights that Bitcoin has the largest user base, the highest liquidity, and the longest lifespan compared to other cryptocurrencies.
Held emphasizes that if developers want to build an application for longevity, Bitcoin is the ideal choice. Currently, approximately $2.2 billion in value is locked on the Bitcoin blockchain. Panter Capital estimates that this emerging sector has the potential to reach $500 billion.
To learn more about the emerging DeFi Bitcoin sector and its potential impact on the ongoing bull run, watch the full interview on our YouTube channel and be sure to subscribe!