In an interview with CNBC, CEO Antoni Trenchev of crypto lender Nexo expects Bitcoin to hit $100,000 within the next year.
Nexo also just launched a “crypto-enabled” payment card in partnership with Mastercard Inc.
Antoni Trenchev is also “worried” about bitcoin’s near-term prospects, suggesting that BTC could fall alongside traditional financial markets as the Federal Reserve begins raising interest rates.
He added the “collapse” in stocks could force the US central bank to “return to easing immediately”.
Bitcoin needs to more than double this year for Antoni Trenchev’s forecast to be accurate.
In January 2020, Antoni Trenchev predicted the bitcoin price to hit $50,000 by year-end.
“Everybody laughs at me,” he said.
Trenchev’s 2020 prediction did not come true. Bitcoin only peaked at over $29,000 that year.
But the crypto king finally crossed $50,000 in February 2021.
Nexo Founder: “Bitcoin is Gold 2.0 and will hit $100k this year”
Meanwhile, crypto whales like Terra Labs co-founder Do Kwon are buying millions of dollars in Bitcoin, believing it could become a reserve currency in the future.
Bitfinex CTO Paolo Ardoino expects bitcoin to plummet below $40,000, but he expects Bitcoin to be “well above” $50,000 by the end of the year.
However, the regulatory environment remains a barrier for the cryptocurrency market to reach major financial institutions. Bitcoin still has a large correlation with the stock market, especially the Nasdaq index.