Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Nexo CEO Predicts Bitcoin Will Hit $100K Within A Year, Sees Short-Term Headwinds: CNBC

  • CEO Antoni Trenchev of crypto lending firm Nexo expects Bitcoin to hit $100,000 within a year, CNBC reports.
  • Nexo had just launched a "crypto-backed" payment card in collaboration with Mastercard Inc (NYSE:MA).
  • Bitcoin's price will have to more than double for the prophecy to come true.
  • Antoni Trenchev was also "worried" about bitcoin's short-term prospects, suggesting it may fall in tandem with traditional financial markets as the Federal Reserve starts unwinding its massive monetary stimulus program.
  • However, the fall could "give further impetus to crypto," as a "crash" in stocks would likely mean the U.S. central bank eventually goes "back to easing in no time," he said
  • In January 2020, Trenchev saw Bitcoin's price top $50,000 by the end of that year. Bitcoin only hit a high of just over $29,000 that year. But the cryptocurrency transcended that $50,000 in February 2021.
  • Bitfinex CTO Paolo Ardoino saw bitcoin fall sharply below $40,000, but he expects by digital currency will be "well above" $50,000 by the end of the year.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.