The co-founder of lending platform Nexo predicted that Bitcoin will touch $100,000 in the middle of this year easily.
Nexo is a lending platform in the crypto industry and is popularly known to provide a high-interest payout for crypto lenders. The native token of this platform Nexo is standing in this industry at 78th rank with a total market cap of 1.49 billion.
Antoni Trenchev is co-founder of the Nexo platform. Recently, he appeared in an interview with CNBC. In the whole interview, he touched on many topics of the crypto industry, and also he shared his prediction on the price of Bitcoin for this year.
On Bitcoin price, Antoni said that in the next few months Bitcoin will gain its bullish momentum and easily will hit $100k in the middle of this year.
“I’m quite bullish on bitcoin. I think it’s going to reach $100K this year, probably by the middle of it.”
Antoni explained the main reason for the surge in the price of Bitcoin. He said that the majority of the companies understood very well about Bitcoin and all of them are now filling their bags with bitcoin. And this will increase the price of Bitcoin in USD value.
Nexo co-founder also hinted that the loan/credit system will stay in the crypto industry for a long time. He said, “cheap money is here to stay”.
Antoni also pointed out the inflation that may act as a catalyst for Bitcoin value in USD. He said that inflation reached around 7% a year because of unlimited fiat money printing and the COVID pandemic in the world.
And this inflation rate of 7% is the all-time high over the last 40 years in the US. On the other hand, Turkey is facing 36% inflation in a single year, which is a big indication that people are going to move towards another better option.
Antoni said that Bitcoin is equivalent to Gold and this will act as a better hedge against inflation.
Besides these facts, the Nexo co-founder said that many countries in Latin America are facing Monetary issues and that may force these countries to follow the footsteps of El Salvador.
“I think Latin America is a poster child for economies with some difficulties, managing thrown currencies, and their respective central banks facing some challenges. So definitely all of them are potential candidates for adopting cryptocurrencies as legal tender, and it’s amazing how far crypto, and particularly bitcoin, has come in just 13 short years.”