Bitcoin’s Price Will Hit $100K by Mid-Year, Nexo Founder Predicts

The co-founder and managing companion of Nexo, a serious cryptocurrency lender, has predicted that the worth of bitcoin might be $100K by mid-2022. He highlighted “two easy causes” why he’s bullish concerning the worth of bitcoin this 12 months.

Bitcoin Expected to Reach $100K by Mid-Year

Antoni Trenchev, the co-founder and managing companion of Nexo, a serious cryptocurrency lender, has shared his bitcoin worth prediction in an interview with CNBC Monday. He stated:

I believe [bitcoin’s] going to achieve $100,000 this 12 months, in all probability by … the center of it.

Nexo has issued greater than $6 billion in credit score and manages belongings for greater than 2.5 million customers globally.

The government defined that there are “two easy causes” why he expects to see large positive factors within the worth of bitcoin.

Firstly, he identified that establishments are more and more placing bitcoin of their company treasuries. The Nasdaq-listed firm Microstrategy, for instance, has bought 124,391 BTC for its treasury.

Another purpose is that Trenchev expects “low cost cash” is right here to remain, which might increase the costs of cryptocurrencies. The Federal Reserve is anticipated to raise interest rates a number of occasions this 12 months. Wharton finance professor Jeremy Siegel not too long ago predicted that “The Fed goes to need to hike many more times than what the market expects.”

The Nexo government added:

I fairly frankly assume that as quickly as we see a price hike, it’s going to be a dip into equities and the bond market — and fairly frankly, the previous few years, we haven’t seen a lot political will to … energy via any type of correction within the conventional monetary markets.

Recently, the president of El Salvador, Nayib Bukele, additionally predicted that the worth of bitcoin will attain $100,000 this 12 months.

Meanwhile, the CEO of Microstrategy, Michael Saylor, foresees bitcoin’s worth reaching $6 million. However, some persons are extra skeptical concerning the worth of the cryptocurrency, together with Bridgewater Associates founder Ray Dalio.

How excessive do you assume the worth of bitcoin will attain this 12 months? Let us know within the feedback part under.