August 17, 2022

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Nexo founder Antoni Trenchev predicts Bitcoin reaching $100K by mid-2022

predicts Bitcoin

predicts Bitcoin

If you are keen to brush up your knowledge with daily crypto updates, then websites like Cryptoknowmics are indeed very helpful in searching for Proton price prediction, or other following topics. Now according to recent crypto news, Antoni Trenchev, the co-founder of big cryptocurrency lender, Nexo, has predicted Bitcoin to reach $100,000 by mid-2022. 

What makes Antoni Trenchev go bullish over Bitcoin price in 2022?

The Nexo managing partner and co-founder Antoni Trencev gave 2 major reasons for going bullish over Bitcoin price this year. He said this during an interview with an American business news channel. Neo has issued $6 billion dollars or more. Besides this, the crypto lending platform is also managing assets exceeding 2.5 million users around the globe.

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Antony has even expressed 2 major reasons behind what makes him go bullish over the price of the foremost cryptocurrency. The first main reason he pointed out is the continuous storing of BTCs by institutions in their respective corporate treasuries. One such example to mention is Microstrategy. This Nasdaq-listed firm has a treasury of 124,391 bitcoins.

The second big reason that makes Antoni believe big gains in the Bitcoin price is the stability of cheap money that would encourage a rise in the prices of digital currencies. Federal reserves are expected to raise the interest rates this year. Going by the prediction of Jeremy Siegel, the professor at Wharton Finance, the Fed will come up with more hikes beyond the market expectation. 

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Another point added by Nexo executive Antoni Trenchev is when there will be a hike in rates, the bond market, as well as equities, will see a downward steep. For the last few years, there has been no political will to make amendments in the regular financial markets. Not only Antoni, but the president of El Salvador Nayib Bukele also went bullish over the price of Bitcoin and believes it would reach the target of $100K in 2022. 

However, Michael Saylor, the chief executive officer of Microstrategy is indeed optimistic of Bitcoin price rise, but around $6 million. Among the other people going skeptical about it is Ray Dalio, the founder of Bridgewater Associates. 

Unknown facts about Antoni Trenchev

  • Antoni was born Antoni Antoniev Trenchev in 1987 on 15th March in Munich, Germany. 
  • He was an ex-Member of the National Assembly of the Republic of Bulgaria. 
  • Besides this, he is also a crypto entrepreneur. Antoni has been behind the co-foundation of cryptocurrency lending firm Nexo. 
  • In 2014, Antoni held a position in the National Assembly of the Republic of Bulgaria. Antoni joined and remained in the Reformist Blo party until the year 2017.
  • He was seated on committee tasks involving various ad hoc committees including European Affairs, supervising Energy and Water Regulation, and European Funds.
  • Antoni Trenchev had also been deputy head of the Delegation to the Parliamentary Assembly of the PACE (Parliamentary Assembly of the Council of Europe).
  • Starting from 2015, Antoni had served in the Committee on Social Affairs, Health, and Sustainable Development. 
  • He worked in the Sub-Committee on relations with the OECD and EBRD from (2015 – 2016), and in the Committee on Political Affairs till 2017. 
  • During the same period, Antoni also worked in Health and Sustainable Development. 
  • At present, he is a managing partner at Nexo Capital Inc., a cryptocurrency lender firm. 
  • Apart from this position, Antoni is also a news advocate and TV commentator on CNBC and Bloomberg.

A brief overview of Nexo

Neo is an online lending platform that specialised in cryptocurrency. In short, it is a company that deals in lending loans backed with cryptocurrency. The firm emphasizes mortgage compliance management software and cloud-based loans. The company facilitates buying via debit cards be it offline or online. It also provides loans to customers, deposit accounts, cold wallets for crypto storage. The headquarters of Nexo is located in London, England. Its foundation was laid by Antoni Trenchev along with Kosta Kantchev, and Georgi Shulev in 2017. 

Giving more insight about Nexo, it stands among the best crypto-based lending platforms allowing cash borrowing or any stable cryptocurrencies with no mandatory need for a credit check. The company operates by lending digital currencies to other entities. Nexo proves its excellence for earning on savings and burrowing. 

Backed by blockchain technology, Nexo enables transparency in its functioning and processing of smart contracts on Ethereum. You won’t have to face any late process of signing up for an account on Nexo. It is done very quickly in a very short duration. After that users can proceed with their account by depositing digital currency, fiat, or cash. Before starting users are asked for personal information. Once their account is verified, they can start exploring. 

This crypto lending platform is not at all complex but very simple instead in terms of navigating. Nexo is ideal for those users who are new to trading platforms and for digital currency transfer. They can instantly see their  holdings, credit access, and anything that hasbeen borrowed in a few clicks.