Bitcoin, which broke the record by reaching an all-time high of $ 69,000 in 2021, continues to accumulate between $ 45,000-50,000 after the sudden and sharp decline in December.
Saying that the volatility in Bitcoin is a myth, Nexo founder Antoni Trenchev said, “Every correction is an opportunity to reset and restart the upward movement.” said.
Antoni Trenchev stated in a recent interview with CNBC that he believes Bitcoin will double in value by mid-2022.
“Bitcoin performs much better as it reaches larger audiences and increases adoption. Because in the face of the increasing adoption rate of Bitcoin in 2021, Bitcoin recorded tremendous growth.
In this context, I am quite optimistic about Bitcoin. I think it will reach $100,000 by mid-2022.”
The famous executive sees two reasons why Bitcoin, which he sees as gold 2.0 in 2022, continues to rise.
“Bitcoin will continue to rise. First, investments in Bitcoin by institutional firms will continue to increase.
Secondly, according to macroeconomic data, the dollar will become cheaper, which will increase inflation. In the face of increasing inflation, people will turn to Bitcoin as a means of protection.”
Expressing that El Salvador’s acceptance of Bitcoin as a legal currency is an example for economies that have difficulty in managing their own currencies, the founder of NEXO said that such countries are potential candidates to accept cryptocurrencies as legal currency.
Nexo founder Trenchev stated that Bitcoin is both a store of value and a medium of exchange, after stating that the progress of cryptocurrencies, especially Bitcoin, in just 13 years is incredible.
Antoni Trenchev finally said that for Bitcoin and cryptocurrencies, “it’s definitely something that can stimulate many economies that are facing some problems.”
*Not investment advice.