Bitcoin to Reach $100,000 by the Middle of 2022 

Antoni Trenchev– Co-Founder of the cryptocurrency financing platform Nexo– forecasted that bitcoin will strike a rate of $100K by mid-2022. In his view, the leading digital possession is an inflation hedge equivalent to gold.

BTC Trading at $100K in a Few Months

Despite increasing its USD worth by over 60% in the last 12 months, bitcoin ended up 2021 on a drop as numerous professionals anticipated the possession to top the $100,000 turning point.

In a current interview for CNBC, Antoni Trenchev– Co-Founder and Managing Partner at Nexo– believed that attaining this cost level will occur in the next numerous months:

“I’m quite bullish on bitcoin. I think it’s going to reach $100K this year, probably by the middle of it.”

According to the 35-year-old Bulgarian, numerous leading business are “quietly filling up their treasuries with bitcoin,” which will be the primary aspect to improve BTC’s USD worth.

The macroeconomic truths such as the “cheap money” (a loan or credit obtained at a low-interest rate) are “here to stay,” which is excellent news for crypto, Trenchev included. He thinks this is the 2nd part that would sustain bitcoin’s cost.

Speaking of the present monetary procedures, it deserves discussing the increasing inflation triggered by the COVID-19 health catastrophe and the subsequent mass printing of fiat currencies. That rate reached almost 7% in the United States– the greatest level in the last 40 years, while nations like Turkey taped a boost of 36%.

This might be another possible factor bitcoin’s cost to more than double from now as it is an inflation hedge comparable to gold, the magnate concluded.

More Countries to Adopt BTC as Legal Tender

In addition to his cost projection, Trenchev forecasted that numerous countries, particularly those in the Latin American area that battle with numerous financial concerns, might follow El Salvador’s transfer to accept bitcoin as a legal type of cash.

“I think Latin America is a poster child for economies with some difficulties, managing their own 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 particular bitcoin, has come in just 13 short years.”

A couple of days earlier, the President of El Salvador– Nayib Bukele– shared a comparable forecast. He thinks 2 more countries will follow his county’s course and embrace BTC as a legal tender in the next 12 months.