Cardano founder Charles Hoskinson has waxed bullish about Bitcoin despite tariff-inspired market turbulence.

Hoskinson has argued that tariffs will prove less impactful than many think. He sees the Magnificent Seven jumping into the cryptocurrency market as the rules of the road become clear.

President Donald Trump's tariff regime has been a hot topic of discussion in recent months, with many economists arguing that it will have a significant impact on the U.S. economy. However, some, like Cardano founder Charles Hoskinson, are brushing it off.

Many are beginning to brush off the possibility of Trump pivoting on his tariff plan, despite him deciding to pause his supposed “reciprocal tariffs” on all countries but China on Wednesday, though many experts argue that the worst is far from over.

What Happened: In a recent podcast appearance, Hoskinson shared his thoughts on the market trends and his optimistic outlook for Bitcoin.

He expressed his belief that tariffs would ultimately have less of an impact than many anticipate.

"I think a lot of people are making a fuss about it, but it's not going to be nearly as big of an issue as people think," he said.

The Cardano founder also discussed the possibility of the Magnificent Seven—Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla—entering the cryptocurrency market as the legal and regulatory framework becomes clearer.

"They'll come into the crypto market. It's just a matter of time," he added.

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His comments come as the stock prices of the Magnificent Seven have stalled in recent months.

Earlier this year, many market watchers were anticipating a continuation of the bull market that began in 2023, with some even predicting a record-breaking year for the Dow Jones Industrial Average.

However, despite the strong start to 2023, the major stock indexes have failed to take off and have instead retreated significantly from their recent highs.

Despite the pessimism surrounding the market, Hoskinson remains bullish, especially on Bitcoin, which he predicts could hit $250,000 by the end of the year or early next year.

"I'm expecting to see Bitcoin at $250,000 by the end of this year or early next year."

Earlier this month, Bitcoin crossed the $70,000 mark for the first time ever.

Also Read: Bitcoin Price Today: BTC Surpasses $70,000 As Fed Minutes Spark Fresh Rally In Crypto Market

Last week, the cryptocurrency giant fell below the key $60,000 level as a new variant of the coronavirus emerged in the U.S., reigniting fears of a broader economic downturn.

The cryptocurrency is now trading at $66,198, recovering slightly from recent lows. It is still down about 40% from an all-time high of $105,120.00 hit in November 2022.