The CEO of a lending firm has predicted that Bitcoin could reach $100.000 a year, or within 12 months.
But the man also said that he’s worried about the cryptocurrency’s short-term prospects. It may be affected adversely by Federal Reserve’s monetary stimulus program.
As time goes on, however, he said that may in turn encourage Bitcoin growth.
In 2020, the same man predicted that Bitcoin would reach $50k, which it later did, although it didn’t reach that proportion in 2020. Bitcoin hit $50k in February 2021.
“Everybody was laughing at me,” he said.
Now, Wall Street is jumping towards digital assets, as many CEOs are buying millions of dollars in cryptocurrencies.
For now, though, the global regulatory environment is fragmented, and the crypto is somewhat volatile.
As of the time of writing this, Bitcoin remains at about $40k.