BTC layer-2s among the catalysts of this bull cycle, Bitcoin OG says


The integration of Layer-2 blockchains on top of Bitcoin could unlock Bitocoin’s true potential and propel its price to unprecedented highs, says Bitcoin OG and former maximalist Dan Held. 

“People are going to take their Bitcoin, lock it up, stake it to earn yield. They’re going to borrow against it,” Held said during an excusive Cointelegraph Interview.

Together with the upcoming halving, the recent Bitcoin ETF approvals and a potential interest rates cut from the U.S. Federal Reserve, Bitcoin DeFi could spark the biggest bull run in history, Held believes.

A former Bitcoin maximalist, Held has recently turned into one of the most vocal supporters of Bitcoin layer-2s, which allows developers to build smart contracts on Bitcoin, expanding the capabilities of the Bitcoin protocol.

According to Held, Bitcoin will soon take over a large portion of the DeFi market, competing with established platforms such as Ethereum and Solana.

“Bitcoin has the most number of users, the most liquidity and will be around the longest,” Held points out.

“If you’re going to build an app and you’re going to build it for longevity, this is the place you’d want to go,” he said. 

Currently, about $2.2 billion in value is locked on the Bitcoin blockchain. According to Panter Capital, this emerging sector has a $500 billion potential.

To know more about the emerging DeFi Bitcoin sector and how it could impact the current bull run, check out the full interview on our YouTube channel, and don’t forget to subscribe! 

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