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Alex Mashinsky, CEO of Celsius Network, is upgrading his Bitcoin price target.
On previous Kitco News appearances, Mashinsky had accurately predicted that Bitcoin would retrace $30,000 before climbing back to $70,000. Now, he sees the world’s largest cryptocurrency closing the year by $160,000.
“We may reach all the way to $160,000 this year. I’m sticking to that prediction,” Mashinsky told Michelle Makori, editor-in-chief of Kitco News.
El Salvador made history by being the first country in the world to adopt Bitcoin as legal tender, and other countries are bound to follow, Mashinsky said.
“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,” he said.
0:00 – Bitcoin as legal tender
3:42 – Bitcoin: asset or cryptocurrency?
9:02 – Bitcoin price growth
19:00 – Elon Musk’s Bitcoin concerns
25:00 – Renewable energy
26:30 – Elizabeth Warren vs. Bitcoin
33:47 – Bitcoin ransomware
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