Nexo co-founder targets Bitcoin at $100K by mid-2022

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Another promising price prediction emerged for Bitcoin bulls in 2022. Antoni Trenchev, co-founder and managing partner of Nexo said Bitcoin 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 fear and greed index shows “extreme fear”, the Bulgarian business tycoon set the record straight:

“Every time investors and the wider community take away Bitcoin, it significantly exceeds. This was the case in 2020 – when it accumulated close to 1,000%, and in 2021 where it accumulated 63%. I’m pretty optimistic about Bitcoin.”

As one of the world’s largest lending institutions in the digital financial industry, Nexo is known for 2.5 million service reports. users through 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 stable currencies, Ether (ETH) and other cryptocurrencies using NFTs as collateral.

Related: Brock Pierce and Tom Lee donate $ 200K BTC in 2022, despite missing the mark in 2021

While Nexus was forged in the 2018 bear market, Trenchev says access to “cheap money”, and institutions filling their bags with cryptocurrencies will propel Bitcoin over the $ 100,000 wall.

There is a lot of evidence that institutional adoption is being created. Last month, Fidelity Investments partnered with Nexo to offer crypto security services, products and lending services for institutional investors. Yesterday, Sam Bankman-Fried, the founder of FTX (who only listed NEXO token on its exchange), said regulatory clarity “would help a lot in institutional adoption”.

In a nod to further adoption of Bitcoin in developing countries, Trenchev concluded that “Latin America is the poster” for cryptocurrency use cases. He joked that “all of them (countries) could be potential candidates to adopt cryptocurrencies as a legal tender.”