Don’t write off bitcoin, says Nexo co-founder Anthony Trentzev. Every time you do it, it greatly outperforms.
Another promising bitcoin bull price prediction for 2022 has been released. Anthony Trenchev, co-founder and managing partner of Nexo, said in an interview with CNBC that bitcoin (BTC) could hit the $100,000 milestone as early as this summer.
Despite BTC opening the year with bearish price action, while the Fear and Greed Index shows “extreme alarm”, the Bulgarian business mogul set a record:
“Every time investors and the wider community write off Bitcoin, it vastly outperforms it. This was the case in 2020, when it grew by almost 1000%, and in 2021, when it grew by 63%. I’m pretty optimistic about bitcoin.”
As one of the world’s largest lending institutions in the digital finance industry, Nexo draws on the information of 2.5 million users in 200 countries. Competing with platforms such as BlockFi and Celsius, it recently became one of the first crypto lenders to allow customers to borrow stablecoins, ether (ETH), and other cryptocurrencies with non-fungible tokens as collateral.
Read also: Brock Pierce and Tom Lee are tipping 200,000 BTC in 2022 even though they haven’t reached the mark in 2021
While Nexo was created in the 2018 bear market, Trenchev said that access to “cheap money” and organizations lining their pockets with cryptocurrencies would push Bitcoin past the $100,000 wall.
There is ample evidence that institutional acceptance is brewing. Last month, Fidelity Investments partnered with Nexo to offer institutional investors crypto custody, lending products and services. On Monday, Sam Bankman-Fried, founder of FTX, which just floated the NEXO token, said regulatory clarity would “add a ton of institutional adoption.”
Referring to the ongoing adoption of bitcoin in developing countries, Trenchev concluded by saying, “Latin America is a good child” for cryptocurrency use cases. He joked that “all (countries) could be potential candidates for adopting cryptocurrencies as legal tender.”
