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

News Feed - 2022-01-05 11:01:50

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


The co-founder and managing partner of Nexo, a major cryptocurrency lender, has predicted that the price of bitcoin will be $100K by mid-2022. He highlighted “two simple reasons” why he is bullish about the price of bitcoin this year. Bitcoin Expected to Reach $100K by Mid-Year


Antoni Trenchev, the co-founder and managing partner of Nexo, a major cryptocurrency lender, has shared his bitcoin price prediction in an interview with CNBC Monday. He said: I think [bitcoin’s] going to reach $100,000 this year, probably by … the middle of it.


Nexo has issued more than $6 billion in credit and manages assets for more than 2.5 million users globally.


The executive explained that there are “two simple reasons” why he expects to see big gains in the price of bitcoin.


Firstly, he pointed out that institutions are increasingly putting bitcoin in their corporate treasuries. The Nasdaq-listed company Microstrategy, for example, has bought 124,391 BTC for its treasury.


Another reason is that Trenchev expects “cheap money” is here to stay, which would boost the prices of cryptocurrencies. The Federal Reserve is expected to raise interest rates several 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.”


The Nexo executive added: 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.


Recently, the president of El Salvador, Nayib Bukele, also predicted that the price of bitcoin will reach $100,000 this year.


Meanwhile, the CEO of Microstrategy, Michael Saylor, foresees bitcoin’s price reaching $6 million. However, some people are more skeptical about the price of the cryptocurrency, including Bridgewater Associates founder Ray Dalio. Tags in this story Bitcoin future price, Bitcoin Price, bitcoin price prediction, Crypto Predictions, cryptocurrency lender, cryptocurrency prediction, Federal Reserve, Nexo, nexo prediction, rate hikes


How high do you think the price of bitcoin will reach this year? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Bored Ape, Mutant Ape Yacht Club NFT Sales Skyrocket — Floor Prices Spike More Than 40% MARKETS AND PRICES | 2 days ago Despite Negative Mining Malware Press, Privacy-Focused Crypto Monero Jumps 36% in 2 Weeks MARKETS AND PRICES | 4 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleChina’s Digital Yuan Wallet App Now in iOS and Android App Stores Next articleIndia’s Monetary Policy Committee Member: Total Crypto Ban Is Difficult to Implement, Crypto Assets Should Be Regulated Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItItalian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG


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