The co-founder and managing partner of crypto lender Nexo, Antoni Trenchev, shared to the public his price prediction for Bitcoin during an interview with CNBC Monday. According to his prediction, Trenchev believes that Bitcoin will hit $100,000 probably within the middle of the year.
The cryptocurrency lending company has administered over $6 billion in credit. Not only that, but the company manages assets for millions of users worldwide. Trenchev explains that there are two reasons why he believes Bitcoin’s price will see significant gains this year.
For one thing, he states that more and more companies are starting to include BTC in their corporate treasuries. For instance, the American company Microstrategy purchased 124,391 BTC for its treasury. The other reason is that the co-founder believes “cheap money” won’t be going away anytime soon, and he expects this to boost crypto prices.
It’s to be expected that the Federal Reserve will increase interest rates more than once this year. Jeremy Siegel, a finance professor from Wharton, said in his prediction that the Federal Reserve will “hike many more times than what the market expects.”
The Nero executive predicts that equities and the bond market will dip as soon as the rates increase. That said, Trenchev isn’t the only one to think that Bitcoin will hit $100,000 within the year. The president of El Salvador, Nayib Bukele, also had the same prediction.
On the other hand, Microstrategy CEO Michael Saylor predicts that Bitcoin will eventually reach $6 million in price. However, not everyone believes that BTC will reach such great heights, including billionaire Ray Dalio.
