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The fast-moving, risky world of decentralized finance—or DeFi—is what could soon make Bitcoin “HODLers” more money on their investment, according to new research from Binance.
A Thursday report from the world’s biggest crypto exchange says that using Bitcoin, the biggest and oldest cryptocurrency, on DeFi protocols is a “large untapped opportunity” and has the “potential to unlock billions in dormant BTC ($81,357.04) liquidity and enhance Bitcoin’s capital efficiency.”
Only about 0.79% of bitcoin is in use for DeFi, the report noted.
Bitcoin is a payment network originally created to send money anywhere in the world at any time. But it is now largely sold—especially since the approval of spot ETFs in the U.S. last year—as “digital gold”: an inflation hedge against collapsing currencies.
That’s why a lot of investors hold—or “HODL ($0.00)” in crypto speak—the asset for years (with many seeing large returns.)
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