The chief executive officer (CEO) of cryptocurrency exchange CoinList is forecasting that the price of Bitcoin will reach $100,000 U.S. by the start of next year (2022).
CoinList CEO Graham Jenkin is bullish on the cryptocurrency, which hit a new record high of $66,000 U.S. on October 20 following the launch of a U.S. Bitcoin futures exchange traded fund (ETF).
The digital currency has since pared some of its gains, trading at $59,052 U.S. per coin currently.
Jenkin said in a media interview that: “Most of the folks at CoinList will bet that we’re at $100,000 by the end of the year. It’s getting pretty tight so I’m not sure that we’re going to make it there, but that’s what we’re predicting toward the start of the year.”
Illustrating the growing demand for cryptocurrency holdings, CoinList announced $100 million U.S. in series A funding, which has given it a valuation of $1.5 billion U.S.
Several financial experts and companies see Bitcoin reaching and even surpassing the $100,000 U.S. mark. They point to inflation and the ETF launch as creating a perfect environment for Bitcoin to thrive, describing it as a hedge against inflation.
However, issues with cryptocurrencies continue to crop up.
United Wholesale Mortgage, the second-largest mortgage lender in the U.S., announced earlier in October that it is ditching its plan to accept payments in Bitcoin, citing “the current combination of incremental costs and regulatory uncertainty in the crypto space.”
And Bitcoin bull Mark Yusko is warning of a pullback and calling the digital asset overbought, expecting investors to take profit at Bitcoin’s current high rate.
