Bitcoin OG and former maximalist Dan Held believes that the integration of layer-2 blockchains on top of Bitcoin could unlock its true potential and drive its price to unprecedented highs. In an exclusive interview with Cointelegraph, Held stated that people will start staking their Bitcoin to earn yield and even borrow against it. Coupled with the upcoming halving, recent Bitcoin exchange-traded fund approvals, and a potential interest rates cut from the United States Federal Reserve, Held believes that Bitcoin decentralized finance (DeFi) could initiate the biggest bull run in history.
Once a Bitcoin maximalist, Held has now become one of the most outspoken advocates for Bitcoin layer 2s, which enable developers to create smart contracts on the blockchain and expand the protocol’s capabilities. Held predicts that Bitcoin will soon capture a significant portion of the DeFi market, competing with established platforms like Ethereum and Solana. He argues that Bitcoin has the largest number of users, the most liquidity, and will have the longest lifespan, making it the ideal choice for building long-lasting applications.
Currently, the Bitcoin blockchain has approximately $2.2 billion locked in value. Panter Capital estimates that this emerging sector has a potential worth of $500 billion. To gain further insights into the emerging Bitcoin DeFi sector and its potential impact on the ongoing bull run, watch the full interview on Cointelegraph’s YouTube channel and remember to subscribe.