The co-founder of blockchain-based lending platform Nexo Finance stated that the leading cryptocurrency Bitcoin could surpass the $100,000 price levels by mid-2022.
Bitcoin Prediction from the Co-Founder of Nexo Finance
Antoni Trenchev, co-founder of Nexo Finance, shared his 2022 expectations for Bitcoin price in an interview with CNBC on Monday. Expressing that Bitcoin can reach $100,000 price levels by the third quarter of 2022, Trenchev explained this rise for two main reasons. The co-founder of Nexo Finance first noted that institutional companies are adding higher amounts of Bitcoin to their portfolios every day.
With the rise in value of the leading cryptocurrency Bitcoin since 2020, the adoption of digital assets has skyrocketed on a global scale. In this context, crypto assets have also started to enter the radar of institutional investors. Here, corporate companies such as Tesla and Square, especially MicroStrategy, which has 124,391 BTC in its portfolio, have also invested significant amounts in the leading cryptocurrency.
Draws Attention to Global Inflation
Trenchev drew attention to the global inflationary environment as the second main reason for the rise expectation. Emphasizing the high inflation rates in the USA, Trenchev stated that this situation may trigger upward movements in the crypto money market.
The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.