Antoni Trenchev of cryptocurrency lender Nexo says that Bitcoin will probably see a further increase as high as $100,000 by mid-2022.
The world’s largest cryptocurrency Bitcoin was trading around $46,170 on Monday.
Trenchev, Managing Partner and Co-founder at Nexo said on Monday, “I think [bitcoin’s] going to reach $100,000 this year, probably by the middle of it.”
Nexo claims to be the world’s highest lending platform in the digital finance industry.
Bitcoin has been a winner in the Covid-19 pandemic time, increasing over 60% in 2021. S&P 500 gained nearly 27%, while the Dow and Nasdaq rose 18.73% and 21.39% respectively.
Trenchev said there are two simple reasons he sees high gains ahead for bitcoin.
He said that institutions are building out treasuries and are filling them with cryptocurrency.
Another reason he mentioned, “Cheap money is here to stay — which will be a boon for cryptocurrencies.”
