Mike Belshe, CEO of BitGo, forecasts a significant rise in Bitcoin’s value, predicting it could surge by 94% to reach between $125,000 and $135,000 by year’s end. In a recent interview, Belshe highlighted the unsustainable US national debt as a key driver for Bitcoin’s appeal, suggesting the cryptocurrency is solidifying its status as a modern alternative to gold.

Further strengthening Bitcoin’s position are global shifts towards alternative payment systems, particularly by BRICS nations, and the ongoing geopolitical use of the US dollar. Belshe critiques the US’s leverage of dollar-based sanctions and its implications for global economic relations, positing Bitcoin as a viable contender against traditional reserve currencies.

As international dynamics evolve and concerns over US fiscal policies mount, Bitcoin appears increasingly viable. Belshe’s insights suggest a growing consensus on Bitcoin’s role in a diversifying global economy, positioning it as a hedge against traditional economic uncertainties.

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May’s report from DappRadar reveals a striking $192 billion total value locked in decentralized finance (DeFi) applications, marking a significant high since February 2022. Dominated by Ethereum with a $130 billion share, the DeFi sector saw a 17% increase in the U.S. dollar value of cryptocurrencies, mainly driven by rising Ether and token prices. Despite a 21% drop in unique active wallets, the uptick indicates a robust investment influx, primarily speculative due to talks of an Ethereum ETF.

Transaction volumes on decentralized exchanges leaped from $1.7 billion to $5.1 billion from October last year to June this year, enhancing yields for liquidity providers. This surge is aligned with periods of heightened discussion around Bitcoin and Ethereum ETFs, suggesting a favorable market reaction.

While daily active users in DeFi waned, other Web3 sectors including gaming and NFT marketplaces saw user growth. This overall expansion of Web3 users, despite challenges in user onboarding, underscores a growing confidence in blockchain technologies, potentially buoyed by the anticipation of new ETFs.

DappRadar