Swiss Bank Seba Predicts Bitcoin Could Hit $75K This Year Boosted by Institutional Investors
Regulated Swiss financial institution Seba has predicted that the value of bitcoin may attain $75K this 12 months. “Institutional cash will most likely drive the value up,” stated the financial institution’s CEO.
Seba Bank’s Bitcoin Price Prediction
Seba Bank CEO Guido Buehler shared his financial institution’s prediction on the place the value of bitcoin is heading with CNBC on the Crypto Finance Conference in St. Moritz, Switzerland, on Wednesday. Seba Bank is a digital belongings banking platform licensed by the Swiss Financial Market Supervisory Authority (FINMA).
Regarding the value of bitcoin this 12 months, he stated:
We imagine the value goes up. Our inside valuation mannequin signifies a value proper now between $50,000 and $75,000.
“I’m fairly assured we’re going to see that stage. The query is at all times timing,” he famous.
When requested if his financial institution’s prediction refers back to the value of bitcoin in 2022 and whether or not BTC will take a look at a number of the file highs seen final 12 months, Buehler replied: “I believe so, although volatility stays excessive.”
The Seba Bank boss additional defined that institutional traders will assist enhance the value of bitcoin in 2022. He opined:
Institutional cash will most likely drive the value up. We are working as a completely regulated financial institution at Seba. We have asset swimming pools which can be on the lookout for the appropriate time to take a position.
Last week, Galaxy Digital CEO Mike Novogratz stated that his agency sees tremendous demand from institutional traders for cryptocurrency. A current survey by Nickel Digital Asset Management found that institutional traders imagine that extra regulation will enhance the value of cryptocurrencies.
Meanwhile, world funding financial institution Goldman Sachs predicted final week that the value of bitcoin may attain $100K as BTC continues to take gold’s market share as a retailer of worth.
Do you agree with Seba Bank concerning the value of bitcoin and institutional demand? Let us know within the feedback part under.