Charles Hoskinson Predicts Bitcoin Will Hit $250,000 by the End of 2020

Hoskinson has argued that tariffs will prove less impactful than many think.

President Donald Trump's tariff regime has been a hot topic in recent months, and as a result of this, asset prices have not only failed to take off but have instead retreated significantly from recent highs. However, despite this, many are brushing it off. The latest to join this chorus is Cardano founder Charles Hoskinson.

In an interview on Tuesday, Hoskinson expected Bitcoin to hit a record $250,000 price "by the end of this year or next year."

"I think we'll see Bitcoin at $250,000 by the end of this year or next year. It's going to be interesting to see how the Magnificent Seven decide to come into the cryptocurrency market because they're going to come in, the institutions are going to come in, and they'll set up their own coins, their own tokens, and they'll start folding the Magnificent Seven into their own Magnificent Seven coins and tokens and institutions," Hoskinson stated.

He added that he expected to see "some interesting totalitarian regimes" come into the market, comparing them to the Ming Dynasty in China.

"They'll come in and they'll try to fold everything into their own totalitarian state and they'll fail, because the crypto market is fundamentally anti-totalitarian. It's about cooperation and people working together and that's what will win out in the end," Hoskinson said.

Tariffs will likely have less impact than many think, according to Hoskinson, who also predicted that the apex cryptocurrency would hit a new all-time high despite recent price declines.

"I think people are putting too much emphasis on the tariffs and not enough emphasis on the fact that we're seeing a new world order emerge with cryptocurrencies and blockchain technology. That's really what's going to drive Bitcoin to new highs, not tariffs or anything else," Hoskinson concluded.

The president's decision to pause his supposed "reciprocal tariffs" on all countries but China on Wednesday had many experts arguing that the worst is far from over.