In a bold statement, Cardano founder Charles Hoskinson claimed that Cardano stands “at the nexus” of the next big DeFi wave—Bitcoin DeFi. While DeFi has flourished on Ethereum and Solana, Hoskinson believes Bitcoin’s massive untapped market is the real prize. He referred to Bitcoin as a “sleeping monstrosity,” suggesting its DeFi potential dwarfs that of Solana, which currently has over $111B in TVL.
Hoskinson wants it to unlock this potential and take the lead in the emerging Bitcoin DeFi space. He shared his 2025 goals on X, listing three focus areas: expanding Bitcoin DeFi, improving scalability via the Ouroboros Leios protocol, and strengthening its connectivity to other blockchain projects like Chainlink.
Currently, Ethereum leads with $61.2B in DeFi TVL, according to DefiLlama, but Hoskinson believes Bitcoin’s future in DeFi could eclipse all. If successful, Cardano may position itself as a foundational layer for Bitcoin-native decentralized finance.
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