Another promising price prediction has appeared for Bitcoin bulls in 2022. Antoni trenchev, Co-Founder and Managing Partner of Nexo said that Bitcoin could hit the $ 100,000 milestone as early as summer in an interview with CNBC.
In spite of BTC opening the year with bearish price action, while fear and greed index shows "extreme fear", the Bulgarian business mogul made things clear:
โEvery time Bitcoin is discarded by investors and the broader community, its performance significantly outperforms. This has been the case in 2020, when it recovered close to 1,000%, and in 2021, where it recovered 63%. I am quite bullish on Bitcoin. "
As one of the world's largest lending institutions in the digital finance industry, Nexo is aware of the prospects of serving 2.5 million users in 200 jurisdictions. As a competitor to platforms such as BlockFi and Celsius, it recently became one of the first cryptocurrency lenders to allow clients to borrow stablecoins, Ether (ETH) and another cryptocurrencies that use NFT as collateral.
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While Nexo was forged in the bear market of 2018, Trenchev says that access to "cheap money" and institutions that fill their exchanges with cryptocurrencies will propel Bitcoin over the $ 100,000 wall.
There is a lot of evidence that institutional adoption is brewing. Last month, Fidelity Investments partnered with Nexo to offer crypto custody services, loan products and services for institutional investors. Yesterday, Sam Bankman-Fried, the founder of FTX (who just listed NEXO Token on its exchange), said that regulatory clarity "It helps a lot in institutional adoption."
In a nod to increased adoption of Bitcoin in developing countries, Trenchev concluded that "Latin America is the ideal model" for cryptocurrency use cases. He joked that "all of them (countries) could be potential candidates to adopt cryptocurrencies as legal tender."
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