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

Another
promising
price
prediction
has
appeared
for
Bitcoin
bulls
in
2022.

Antoni
Trenchev
,
co-founder
and
managing
partner
of
Nexo,

said

that
Bitcoin
(BTC) 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
the
Fear
&
Greed
Index shows “extreme
fear,”
the
Bulgarian
business
mogul
set
the
record
straight:

“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
one
of
the
world’s
largest
lending
institutions
in
the
digital
finance
industry,
Nexo
is
privy
to
insights
from
serving
2.5
million

users

across
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
stablecoins,
Ether
(ETH)
and
other

cryptocurrencies
using
nonfungible
tokens
as
collateral
.



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

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

There’s
plenty
of
evidence
that
institutional
adoption
is
brewing.
Last
month,
Fidelity
Investments
partnered
with
Nexo
to
offer
crypto
custodial
services,

products
and
lending
services
for
institutional
investors
. On
Monday,
Sam
Bankman-Fried,
founder
of
FTX

which
just

listed
 the
NEXO
token

said
that
regulatory
clarity
would
help
a
ton
on
institutional
adoption
.”

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

read original article here