One other promising worth prediction has appeared for Bitcoin bulls in 2022. Antoni Trenchev, co-founder and managing associate of Nexo, said that Bitcoin (BTC)may hit the $100,000 milestone as quickly because the summer season in an interview with CNBC.
Regardless of BTC opening the 12 months with bearish worth motion, whereas the Concern & Greed Indexshows“excessive concern,” the Bulgarian enterprise mogul set the report straight:
“Each time that buyers and the broader neighborhood write off Bitcoin, it outperforms considerably. This has been the case in 2020 when it rallied near 1,000% and in 2021 the place it rallied 63%. I’m fairly bullish on Bitcoin.”
As one of many world’s largest lending establishments within the digital finance trade, Nexo is aware about insights from serving 2.5 million users throughout 200 jurisdictions. As a competitor to platforms reminiscent of BlockFi and Celsius, it has not too long ago turn into one of many first crypto lenders to permit clients to borrow stablecoins, Ether (ETH) and different cryptocurrencies utilizing nonfungible tokens as collateral.
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Whereas Nexo was solid within the bear market of 2018, Trenchev mentioned that entry to “low-cost cash” and establishments filling their baggage with cryptocurrencies will propel Bitcoin over the $100,000 wall.
There’s loads of proof that institutional adoption is brewing. Final month, Constancy Investments partnered with Nexo to supply crypto custodial providers, merchandise and lending providers for institutional buyers.On Monday, Sam Bankman-Fried, founding father of FTX — which simply listedthe NEXO token — mentioned that regulatory readability would “assist a ton on institutional adoption.”
In a nod to additional Bitcoin adoption in growing nations, Trenchev concluded by saying “Latin America is the poster youngster” for cryptocurrency use instances. He joked that “all of them (nations) may very well be potential candidates for adopting cryptocurrencies as authorized tender.”
