Bitcoin OG attributes bull cycle to the influence of Bitcoin layer 2s

Bitcoin OG and former maximalist Dan Held believes that integrating layer-2 blockchains on top of Bitcoin could unlock its true potential and lead to unprecedented price increases. Held predicts that people will start locking up their Bitcoin, staking it to earn yield, and even borrowing against it. He also points to the upcoming Bitcoin halving, recent BTC exchange-traded fund approvals, and a potential interest rate cut from the US Federal Reserve as factors that could fuel the biggest bull run in history. As a former Bitcoin maximalist, Held has become a strong advocate for Bitcoin layer 2s, which enable developers to build smart contracts on the blockchain and expand its capabilities. He believes that Bitcoin will soon compete with established platforms like Ethereum and Solana in the decentralized finance (DeFi) market, thanks to its large user base, liquidity, and longevity. Currently, around $2.2 billion is locked on the Bitcoin blockchain, with a potential of $500 billion in this emerging sector. To learn more about the impact of the emerging Bitcoin DeFi sector on the current bull run, watch the full interview on Cointelegraph’s YouTube channel and don’t forget to subscribe!