“Highlighting the two reasons for his claim, the co-founder and managing partner of the large crypto lending firm Nexo predicted that Bitcoin will reach a price of $100K by mid 2022.”
The Co-Founder and Managing Partner of Nexo (Crypto Lending Firm), Antoni Trenchev made a prediction for Bitcoin that it will reach a price of $100K by mid 2022. In an interview with CNBC he said “I think [Bitcoin’s] going to reach $100,000 this year, probably by the middle of it”. Nexo is a huge crypto lender with a $6 Billion total credit issued and the funds of more than 2.5 Million people being managed by the crypto lender.
Trenchev provided two main reasons for his claim. The first and the foremost reason is the accumulation of Bitcoin by large institutions into their treasury. MicroStrategy is the top accumulator with 124,391 BTC in their treasury. As more and more institutional investors are buying Bitcoin, its price is ought to rise very soon as the demand will outweigh the supply. The Second reason according to him is that the ‘cheap money’ is here to stay as Feds will have to raise interest rates several times this year, more times than we expect and this is going to boost the price of the cryptocurrencies and Bitcoin in particular.
Many other popular personalities are making their predictions about the price of Bitcoin. El Salvador’s President expects the price of Bitcoin to reach $100K this year and the MicroStrategy’s CEO expects it to reach $6 Million per BTC Within a decade.
Disclaimer: The article is just to provide information and shouldn’t be considered as any financial advice. It is advisable to conduct thorough research before investing in any cryptocurrency.
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