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Cardano founder Charles Hoskinson said on cryptocurrency influencer David Gokhshtein’s podcast that a Cardano-based Bitcoin DeFi project has secured $500 million in preliminary investment commitments.
Hoskinson said the project could attract more than $1 billion in investment as it advances. He added that the initiative aims to build a Cardano-based DeFi layer without undermining Bitcoin’s identity, creating additional yield opportunities. Hoskinson said institutional investors are expected to drive initial demand, with retail participation likely to follow.
He also said the proof-verification capacity required for BTC DeFi, which was heavy in the early stages of development, has become lighter, while verification times and transaction validation costs have fallen sharply. Hoskinson added that the technology is open-source, allowing anyone to review the code, and said the ultimate goal is to create an environment where BTC holders can generate additional returns with a single click.