Nexo co-founder, managing partner, and major crypto lender has projected that bitcoin prices will hit $100K by 2022. He highlighted “two simple reasons” why he is bullish about the price of bitcoin this year.
Bitcoin expected to hit $100K mid-year
Antoni Trenchev is the co-founder of Nexo and its managing partner. He shared his prediction for bitcoin’s price in an interview on Monday with CNBC. He stated:
Ich denke [bitcoin’s] going to reach $100,000 this year, probably by … the middle of it.
Nexo is the global credit provider for over $6 billion and has assets that serve more than 2.5million users.
The executive explained that there are “two simple reasons” why he expects to see big gains in the price of bitcoin.
First, he noted that bitcoin is being increasingly used by institutions to fund their corporate treasuries. Microstrategy has, for instance, purchased 124 391 BTC in its treasury.
Another reason is that Trenchev expects “cheap money” is here to stay, which would boost the prices of cryptocurrencies. It is likely that the Federal Reserve will raise interest rates several more times this year. Wharton finance professor Jeremy Siegel recently predicted that “The Fed is going to have to hike many more times than what the market expects.”
Nexo’s executive said:
I quite frankly think that as soon as we see a rate hike, it’s going to be a dip into equities and the bond market — and quite frankly, the last few years, we haven’t seen much political will to … power through any sort of correction in the traditional financial markets.
Nayib Bukele, President of El Salvador, predicted recently that Bitcoin’s value would reach $100,000.
Meanwhile, the CEO of Microstrategy, Michael Saylor, foresees bitcoin’s price reaching $6 million. Ray Dalio, founder of Bridgewater Associates, is more skeptical than others about bitcoin’s price.
Which is your prediction for the Bitcoin price this year? Comment below to let us know your thoughts.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.