Bitcoin to Reach $100,000 by the Middle of 2022
Antoni Trenchev – Co-Founder of the cryptocurrency lending platform Nexo – predicted that bitcoin will hit a value of $100K by mid-2022. In his view, the main digital asset is an inflation hedge equal to gold.
BTC Trading at $100K in a Few Months
Despite growing its USD worth by over 60% within the final 12 months, bitcoin completed 2021 on a downtrend as many specialists anticipated the asset to prime the $100,000 milestone.
In a latest interview for CNBC, Antoni Trenchev – Co-Founder and Managing Partner at Nexo – opined that attaining this value degree will occur within the subsequent a number of months:
“I’m quite bullish on bitcoin. I think it’s going to reach $100K this year, probably by the middle of it.”
According to the 35-year-old Bulgarian, many main firms are “quietly filling up their treasuries with bitcoin,” which would be the primary issue to spice up BTC’s USD worth.
The macroeconomic realities such because the “cheap money” (a mortgage or credit score borrowed at a low-interest fee) are “here to stay,” and that’s nice information for crypto, Trenchev added. He believes that is the second element that will gasoline bitcoin’s value.
Speaking of the present monetary processes, it’s price mentioning the rising inflation brought on by the COVID-19 well being catastrophe and the next mass printing of fiat currencies. That fee reached almost 7% within the United States – the best degree within the final 40 years, whereas nations like Turkey recorded a rise of 36%.
This could possibly be one other attainable purpose bitcoin’s value to greater than double from now as it’s an inflation hedge equal to gold, the highest govt concluded.
More Countries to Adopt BTC as Legal Tender
In addition to his value forecast, Trenchev predicted that many countries, particularly these within the Latin American area that battle with varied financial points, might observe El Salvador’s transfer to simply accept bitcoin as a authorized type of cash.
“I think Latin America is a poster child for economies with some difficulties, managing their own currencies, and their respective central banks facing some challenges. So definitely all of them are potential candidates for adopting cryptocurrencies as legal tender, and it’s amazing how far crypto, and particular bitcoin, has come in just 13 short years.”
Just a few days in the past, the President of El Salvador – Nayib Bukele – shared the same prediction. He believes two extra nations will observe his county’s path and undertake BTC as a authorized tender within the subsequent 12 months.
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