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Bitcoin is going to reach $100,000 by the middle of 2022 according to Antoni Trenchev, the founder of crypto lending platform, Nexo. Bitcoin which he dubbed “Gold 2.0”, he said, will exceed expectations as it has often done.
He made the prediction while speaking with CNBC today. The Nexo founder and former member of the National Assembly of the Republic of Bermuda noted Bitcoin has exceeded the expectations of investors and the broader community as it “outperforms significantly” every time it is written off.
The key drivers to a $100,000 price
According to Trenchev, he remains bullish on Bitcoin reaching $100,000 for two key reasons. For one, institutional investment has been ramping up in the Bitcoin market. He noted that institutional investors have been quietly adding Bitcoin to their treasury and are expected to continue doing so.
His second reason for the price projection is the prevailing “macroeconomic realities.” Trenchev does not think that inflation will let economies in its grasp go anytime soon, which is a great thing for Bitcoin that has been proven to be an inflation hedge.
We see institutional adoptions persevere quietly, companies building out their treasuries, filling it with Bitcoin. And also, the broader theme of macroeconomic realities and cheap money, in my opinion, is here to stay, which is great for crypto, which is an inflation hedge and gold 2.0.
Trenchev further explained that contrary to what a lot of analysts thought, he did not think inflation would abate soon because he was anticipating a dip in the stock market once the US Federal Reserve projected interest rate hikes hit the market.
Trenchev also commented on his expectations for Bitcoin and cryptocurrency adoption by countries of the world. He predicts that the next major nation-state adoption of Bitcoin as a parallel currency, after El Salvador in 2021, is likely going to come from Latin American countries, where they have fractured economies.
I think Latin America is a poster child for what you just described. You know, economies with some difficulty in managing their own currencies, and their respective central banks facing some challenges. So, definitely all of them are potential candidates for adopting cryptocurrencies as legal tender.
The price of Bitcoin continues to face an arduous climb
The price of Bitcoin is currently trading at around $47,277, down 0.02% on the day. Within the last 7 days, the price of Bitcoin has reached a high of just under $52,000. That notwithstanding, several analysts are still highly optimistic that Bitcoin will reach a price target of $100,000 within 2022. To do this, Bitcoin will have to surge about 71.5% from its current price.
 
The post Founder of Nexo Brands Bitcoin as advanced gold, predicts price will hit $100,000 in Q2 appeared first on CoinGape.


Bitcoin is going to reach $100,000 by the middle of 2022 according to Antoni Trenchev, the founder of crypto lending platform, Nexo. Bitcoin which he dubbed &#8220;Gold 2.0&#8221;, he said, will exceed expectations as it has often done. He made the prediction while speaking with CNBC today. The N...

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Founder of Nexo Brands Bitcoin as advanced gold, predicts price will hit $100,000 in Q2

On December 16, the blockchain-based lending platform Nexo announced the firm has launched a non-fungible token (NFT) lending desk. While the company offered crypto-backed loans using tokens like bitcoin and ethereum for instant funds, Nexo is offering instant liquidity to NFT holders that don’t want to sell their NFTs. 
Nexo to Offer Loans for Bored Ape and Cryptopunks NFT Collateral
NFTs have become a big deal in 2021 and a billion-dollar industry almost overnight. Popular collections like the Bored Ape Yacht Club (BAYC), Cryptopunks, and Meebits have sold for hundreds of thousands and even millions of dollars per NFT. This week, the blockchain-based lending platform Nexo has revealed a lending desk dedicated to offering liquidity to NFT owners who use their NFTs as collateral.

On the company’s blog, Nexo explains that NFT owners can get “instant liquidity without having to sell your precious NFTs.” Right now the firm is accepting NFTs from two collections Bored Ape Yacht Club and Cryptopunks. In the future, Nexo says other collections will be added to the list of accepted NFTs. In terms of credit withdrawals, Nexo customers can withdraw stablecoins, ethereum (ETH), and other digital assets. 
“Borrow up to 20% of the value of your BAYC or Cryptopunks without selling them,” Nexo says. “No Credit Checks [and] prompt loan approval without the hassle of credit scores and inquiries,” the lender notes. Nexo says the NFT lending process will be a “white-glove service,” and there are “no liquidations before maturity, even if the value of your NFT fluctuates during the course of the loan, you won’t get liquidated.”

Seeing how the NFT lending desk will be an over-the-counter (OTC) service, loan applicants need to fill out a specialized form. Essentially, an NFT owner would apply, fill out a form with their specific NFTs ID number, and then wait for a Nexo representative to contact them.
“Our NFT Lending Desk and art financing functionalities are just the beginning of Nexo’s NFT and metafi journey, with more investment-grade products, accessible, secure, and high-profit exposure to the NFT market coming to our product suite soon,” Nexo’s announcement concludes.
What do you think about Nexo launching an NFT lending desk dedicated to offering liquidity to BAYC and Cryptopunks NFT holders? Let us know what you think about this subject in the comments section below.



























On December 16, the blockchain-based lending platform Nexo announced the firm has launched a non-fungible token (NFT) lending desk. While the company offered crypto-backed loans using tokens like bitcoin and ethereum for instant funds, Nexo is offering instant liquidity to NFT holders that don&#x...

NEXO price	$2.34
Low - High 24H	$2.22 - $2.38
Market cap	$1.31B
Volume 24H	$4.97M
All time high	$4.07 -42.54% May 12th 2021
All time low	$0.045153 5076.97% September 13th 2018
Genesis date	N/A

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