The CEO of lending platform Nexo Antoni Trenchev has claimed that Bitcoin could hit $50,000 in 2020. CEO Nexo made the statements today during an interview with Bloomberg in Germany when quizzed about the future of the coin.
Video by Bloomberg
The interview started by Trenchev being asked about the future of Bitcoin after becoming the top-performing asset of the past decade (with a price rise of nine million percent since July 2010).
CEO Nexo replied:
“I think that very easily we could see BTC going up to 50,000 US dollar by the end of this year. We have some analysts crunching the numbers, doing very substantial research… it’s the halving coming up because, you know, the rewards for miners are dropping… Last time this happened, Bitcoin rallied 4000%. And it’s been an incredible asset -uncorrelated to the overall market, it delivers systematic asymmetric returns…”
According to CEO Nexo, Bitcoin is an incredible asset that has continued to perform at unprecedented growth since its inception in 2008. Trenchev also likened Bitcoin’s ascent up to $20,000 as reminiscent of German hyperinflation after the first world war.
“It delivers systematic asymmetric returns and the only thing that we have seen close to anything like this has been the rise of the USD against the Deutsche Mark in the 1920s.”
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