- 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: 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.
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