In the current bullish cycle, Bitcoin OG Dan Held anticipates that the flourishing Bitcoin layer-2 sector will emerge as a prominent narrative, propelling BTC to unprecedented price levels. Held, a former Bitcoin maximalist, emphasizes the potential of integrating Layer-2 blockchains with Bitcoin to unleash its true capabilities, including the ability to lock up, stake, and borrow against Bitcoin to earn yield.
In an exclusive interview with Cointelegraph, Held highlights the synergy of Bitcoin DeFi, potential interest rate cuts by the U.S. Federal Reserve, and the forthcoming Bitcoin ETF approvals, along with the upcoming halving, as factors that could ignite the most significant bull run in history.
Having shifted from a Bitcoin maximalist stance, Held is now a vocal advocate for Bitcoin layer-2s, enabling smart contract development on the Bitcoin protocol and expanding its functionalities. He envisions Bitcoin gradually dominating a substantial portion of the DeFi market, competing with established platforms like Ethereum and Solana.
Held points out that Bitcoin possesses the largest user base, highest liquidity, and longevity, making it an attractive platform for building applications geared towards lasting impact. Currently, around $2.2 billion in value is locked on the Bitcoin blockchain, with Panter Capital estimating a $500 billion potential for this emerging sector.
For a comprehensive understanding of the evolving DeFi Bitcoin sector and its potential influence on the ongoing bull run, the full interview is available on the YouTube channel, so be sure to subscribe!