A while ago, I watched an interview with Cardano founder Charles Hoskinson, and he shared a particularly interesting perspective. Instead of just predicting Bitcoin prices, he kept emphasizing a critically overlooked issue in the market—the Bitcoin DeFi ecosystem.

How should I put it? Bitcoin actually holds the largest, yet most "sleeping" asset pool in the crypto industry. Looking at the entire market, no other asset class matches its scale. But here’s the problem—Bitcoin is currently just a store of value. You can only buy and hold it; if you want to participate in any economic activity, sorry, you have to sell it first. If this continues, the growth potential of the crypto industry could be seriously stifled.

Carefully analyzing this logic, it involves four key questions:

First, why can BTC DeFi become the determining factor for Bitcoin’s value in the next stage? Then, how do top-tier development teams view the activation of Bitcoin’s sleeping assets? Third, what mistakes have been made in Bitcoin DeFi over the past decade? Finally, what role does the Cardano chain play in this story?

Combining these points, a particularly core conclusion emerges—that this has never been a question of "whether Bitcoin should do DeFi." The real key is whether it’s possible to make Bitcoin usable without compromising security or asset ownership.

Once this is achieved, the impact could go far beyond Bitcoin itself. At that point, the entire structure of the crypto market might have to change as well.