Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Donât write off Bitcoin, says Nexo co-founder Antoni Trenhcev. Every time you do, it significantly outperforms.
Another promising price prediction has appeared for Bitcoin bulls in 2022. Antoni Trenchev, co-founder and managing partner of Nexo, said that Bitcoin (BTC)Â could hit the $100,000 milestone as soon as the summer in an interview with CNBC.
Despite BTC opening the year with bearish price action, while the Fear & Greed Index shows âextreme fear,â the Bulgarian business mogul set the record straight:
âEvery time that investors and the broader community write off Bitcoin, it outperforms significantly. This has been the case in 2020 when it rallied close to 1,000% and in 2021 where it rallied 63%. Iâm quite bullish on Bitcoin.â
As one of the worldâs largest lending institutions in the digital finance industry, Nexo is privy to insights from serving 2.5 million users across 200 jurisdictions. As a competitor to platforms such as BlockFi and Celsius, it has recently become one of the first crypto lenders to allow customers to borrow stablecoins, Ether (ETH) and other cryptocurrencies using nonfungible tokens as collateral.
Related:Â Brock Pierce and Tom Lee tip $200K BTC in 2022, despite missing the mark in 2021
While Nexo was forged in the bear market of 2018, Trenchev said that access to âcheap moneyâ and institutions filling their bags with cryptocurrencies will propel Bitcoin over the $100,000 wall.
Thereâs plenty of evidence that institutional adoption is brewing. Last month, Fidelity Investments partnered with Nexo to offer crypto custodial services, products and lending services for institutional investors. On Monday, Sam Bankman-Fried, founder of FTX â which just listed the NEXO token â said that regulatory clarity would âhelp a ton on institutional adoption.â
In a nod to further Bitcoin adoption in developing countries, Trenchev concluded by saying âLatin America is the poster childâ for cryptocurrency use cases. He joked that âall of them (countries) could be potential candidates for adopting cryptocurrencies as legal tender.â
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.