By | January 3, 2022

Antoni Trenchev – Co-Founding father of the cryptocurrency lending platform Nexo – predicted that bitcoin will hit a value of $100K by mid-2022. In his view, the main digital asset is an inflation hedge equal to gold.

BTC Buying and selling at $100K in a Few Months

Regardless of rising its USD worth by over 60% within the final 12 months, bitcoin completed 2021 on a downtrend as many specialists anticipated the asset to high the $100,000 milestone.

In a current interview for CNBC, Antoni Trenchev – Co-Founder and Managing Associate at Nexo – opined that reaching this value stage will occur within the subsequent a number of months:

“I’m fairly bullish on bitcoin. I believe it’s going to succeed in $100K this yr, in all probability by the center of it.”

In accordance with the 35-year-old Bulgarian, many main firms are “quietly filling up their treasuries with bitcoin,” which would be the predominant issue to spice up BTC’s USD worth.

The macroeconomic realities such because the “low cost cash” (a mortgage or credit score borrowed at a low-interest fee) are “right here to remain,” and that’s nice information for crypto, Trenchev added. He believes that is the second element that might gas bitcoin’s value.

Talking of the present monetary processes, it’s value mentioning the rising inflation brought on by the COVID-19 well being catastrophe and the following mass printing of fiat currencies. That fee reached almost 7% in the US – the best stage within the final 40 years, whereas international locations like Turkey recorded a rise of 36%.

This could possibly be one other attainable cause bitcoin’s value to greater than double from now as it’s an inflation hedge equal to gold, the highest govt concluded.

Antoni Trenchev, Supply: Bloomberg

Extra Nations to Undertake BTC as Authorized Tender

Along with his value forecast, Trenchev predicted that many countries, particularly these within the Latin American area that wrestle with numerous financial points, might observe El Salvador’s transfer to simply accept bitcoin as a authorized type of cash.

“I believe Latin America is a poster youngster for economies with some difficulties, managing their very own currencies, and their respective central banks dealing with some challenges. So undoubtedly all of them are potential candidates for adopting cryptocurrencies as authorized tender, and it’s superb how far crypto, and explicit bitcoin, has are available in simply 13 quick years.”

A number of days in the past, the President of El Salvador – Nayib Bukele – shared an analogous prediction. He believes two extra nations will observe his county’s path and undertake BTC as a authorized tender within the subsequent 12 months.


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