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With things looking up for the flagship cryptocurrency, can it surge as high as $160,000? Entrepreneur Alex Mashinsky predicted in a recent interview that the price of Bitcoin could reach as high as $160,000 by the end of 2021.
Alex Mashinsky is one of the most influential people in the U.S.A., being the founder of several technology firms in the country. He is also the co-founder, CEO and Chairman of Celsius Network.
Bitcoin has seen some ups and downs, especially in the last few weeks. However, an upward momentum can be anticipated, given the optimism and confidence of major companies and individuals such as Mashinsky.
Therefore, people who have been planning to invest in BTC can make use of its current price and use SwissBorg or Kraken to safely invest in it. New investors can also consider crypto trading and enjoy its benefits by using PrimeXBT Covesting.
Mashinsky’s Hope for the Flagship Crypto’s Future
During an interview with Kitco News, Alex Mashinsky sounded quite optimistic regarding the price surge of BTC and how a few factors can add to its value.
While Mashinsky aims to stick to his prediction of BTC’s price reaching $160,000, he also stated that the adoption of Bitcoin as a legal tender by other countries can significantly boost its price.
Regarding El Salvador’s decision of BTC adoption, Alex Mashinsky stated:
“So if we can get a Brazil, if we can get a Nigeria, if we can get countries with large populations to accept this as legal tender… you’re going to see a huge explosion in the price because just the adoption of all those users is going to create tremendous new demand.”
Mashinsky also spoke about Elon Musk’s influence on the crypto market and stated that he has a strong following on a global scale, however, within the BTC community his influence might be decreasing.
Undoubtedly, investing in crypto has its perks, as the use and prominence of digital currencies are increasing day by day. Therefore, interested parties looking to invest in crypto or specifically BTC can opt for secure exchanges and purchase the crypto asset at minimized risks.
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Why BTC Investors and Traders Should be Encouraged?
Bitcoin is the largest crypto asset in the world and after taking a hit, it was seen to struggle to reach closer to the $40,000 region. Despite the challenges experienced by the flagship cryptocurrency, its prominence grew more than ever.
- BTC is now recognized as a legal tender in El Salvador.
- MicroStrategy has sold $1 billion worth of its Class A common stock to purchase more BTC.
- Texas State Banks are now allowed to hold BTC for clients.
- Bitcoin miners are exploring new and innovative ways to mine digital asset without damaging the environment.
- Bitcoin Whales now reportedly own 48.7% of the total BTC supply.
These are some of the new developments regarding the top digital asset that can signify its importance. If Mashinsky’s prediction comes true by the end of this year it can take Bitcoin and the entire crypto market to the next level.
Therefore, this can be a suitable time for many people to purchase BTC or even trade it. Crypto traders who have been looking for a secure exchange to trade can use the ByBit exchange, which is one of the most trustworthy exchanges.
