Another appealing rate forecast has actually stood for Bitcoin bulls in 2022. Antoni Trenchev, co-founder and handling partner of Nexo stated that Bitcoin might strike the $100,000 turning point as quickly as the summertime in an interview with CNBC.
Despite BTC opening the year with bearish rate action, while the worry and greed index programs “extreme fear,” the Bulgarian organization magnate set the record directly:
“Every 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%. I’m quite bullish on Bitcoin.”
As among the world’s biggest loan provider in the digital financing market, Nexo is privy to insights from serving 2.5 million users throughout 200 jurisdictions. As a rival to platforms like BlockFi and Celsius, it just recently turned into one of the very first crypto loan providers to permit consumers to obtain stablecoins, Ether (ETH) and other cryptocurrencies utilizing NFTs as security.
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While Nexo was created in the bearish market of 2018, Trenchev states that access to “cheap money,” and organizations filling their bags with cryptocurrencies will move Bitcoin over the $100,000 wall.
There’s lots of proof that institutional adoption is developing. Last month, Fidelity Investments partnered with Nexo to use crypto custodial services, items and providing services for institutional financiers. Yesterday, Sam Bankman-Fried, the creator of FTX (which simply noted NEXO token on his exchange), stated that regulative clearness would “help a ton on institutional adoption.”
In a nod to additional Bitcoin adoption in establishing nations, Trenchev concluded that “Latin America is the poster child” for cryptocurrency usage cases. He joked that “all of them (countries) could be potential candidates for adopting cryptocurrencies as legal tender.”