Nexo Co-Founder Sets Bitcoin Target at $100k by Mid-2022

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2022-01-05 16:36:18

Nexo Co-Founder, Antoni Trenhcev, Says: Don’t Delete Bitcoin. Every time you do, it’s significantly superior.

Another promising price prediction has emerged for Bitcoin bulls in 2022. Antoni Trenchev, co-founder and managing partner of Nexo says that Bitcoin could hit the $100,000 mark as soon as this summer within an interview with CNBC.

Although BTC opened the year with bearish price action, while the fear and greed index showed “extreme fear,” the Bulgarian business magnate set the record:

“Every time investors and the wider community dump Bitcoin, it performs significantly better. This happened in 2020 – when it was up almost 1,000% and in 2021, when it was up 63%. I am quite bullish on Bitcoin. ”

As one of the world’s largest lenders in the digital finance industry, Nexo holds insights from serving 2.5 million users across 200 jurisdictions. A competitor to platforms like BlockFi and Celsius, it recently became one of the first crypto lenders to allow customers to borrow stablecoins, Ether (ETH) and other cryptocurrencies with how to use NFT as collateral.

While Nexo was forged during the 2018 bear market, Trenchev said that access to “cheap money” and institutions filling their pockets with crypto would push Bitcoin past the $100,000 wall.

There is a lot of evidence that institutional adoption is working. Last month, Fidelity Investments partnered with Nexo to provide crypto lending services, products and services to institutional investors. Yesterday, Sam Bankman-Fried, founder of FTX (which just listed the NEXO token on his exchange), said that regulatory clarity will “help a lot with institutional adoption.”

In a nod to the continued adoption of Bitcoin in developing countries, Trenchev concluded that “Latin America is the poster child” for crypto use cases. He joked that “all of them (countries) could be potential candidates to adopt crypto as a legal tender.”

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