Nexo co-founder targets Bitcoin at $100K by mid-2022

One other promising value prediction has appeared for Bitcoin bulls in 2022. Antoni Trenchev, co-founder and managing companion of Nexo mentioned that Bitcoin may hit the $100,000 milestone as quickly because the summer season in an interview with CNBC.

Regardless of BTC opening the yr with bearish value motion, whereas the concern and greed index reveals “excessive concern,” the Bulgarian enterprise mogul set the document straight:

“Each time that buyers and the broader group 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 business, Nexo is aware about insights from serving 2.5 million customers throughout 200 jurisdictions. As a competitor to platforms like BlockFi and Celsius, it lately grew to become one of many first crypto lenders to permit prospects to borrow stablecoins, Ether (ETH) and different cryptocurrencies utilizing NFTs as collateral.

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Whereas Nexo was solid within the bear market of 2018, Trenchev says 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 companies, merchandise and lending companies for institutional buyers. Yesterday, Sam Bankman-Fried, the founding father of FTX (which simply listed NEXO token on his change), mentioned that regulatory readability would “assist a ton on institutional adoption.”

In a nod to additional Bitcoin adoption in creating international locations, Trenchev concluded that “Latin America is the poster little one” for cryptocurrency use instances. He joked that “all of them (international locations) might be potential candidates for adopting cryptocurrencies as authorized tender.”