Nexo Co-Founder Predicts Bitcoin Could Reach $100K ‘Within 12 Months’

Antoni Trenchev, Co-Founder and Managing Partner of Nexo, “the world’s largest and most trusted lending institution in the digital finance industry”, is expecting the Bitcoin price to get to $100,000 within a year.

According to a report published by CNBC earlier today (April 14), the Nexo managing partner told CNBC that although he us concerned about Bitcoin in the short term — since its price might fall along with other risk-on assets such as U.S. tech stocks as the Federal Reserve continues tightening monetary policy by increasing interest rates — he still believes that “within 12 months” we should see the Bitcoin price hitting $100K.

Back in early January, in an interview with CNBC’s “Street SIgns Asia”, Trenchev said:

“I think [bitcoin’s] going to reach $100,000 this year, probably by … the middle of it.“

Earlier today, Nexo announced its newest feature: MetaMask integration. Nexo says that using the MetaMask crypto wallet web extension on its platform, “clients can now interact with their on-chain wallet, setting up MetaMask as a single-click top-up source.” It also mentioned that three benefits this integration brings are “effortless transfers”, “exchange versatilty”, and “flexible gas fees”.

Nexo went on to say:

“Making it possible for our users to use their MetaMask Wallets directly on the Nexo platform creates a new level of usability for our products and the assets we support. The integration provides seamless interaction with users’ on-chain wallet and serves as an intuitive on/off-ramp for various cryptocurrencies. It also helps with eliminating transaction errors and is yet another way clients can use Nexo’s multichain bridge between the Ethereum mainnet and Polygon.“

Nexo made several announcements yesterday, the most interesting of which was the Nexo Card, which it says is “the only card that lets you spend the value of your crypto without selling it.”

Here is how the Nexo Card works:

“The card is tied to Nexo’s Instant Crypto Credit Lines. All purchases are deducted automatically from your available credit line while your portfolio remains intact… Essentially, you use your digital assets as collateral while spending their fiat value at millions of merchants worldwide…. The credit line can use one or multiple assets as collateral, allowing you to spend up to 90% of the value of your crypto without selling it.“

Here are a few features of the Nexo Card:

  • “Up to 2% in Crypto Rewards” (up to 0.5% in $BTC or up to 2% in $NEXO)
  • “Crypto Credit from 0% APR“
  • “No Monthly Fees“
  • “No Minimum Monthly Repayments“
  • “Free Virtual Card” (can be used with Apple Pay & Google Pay)
  • “Free ATM Withdrawals” (“up to 10 free ATM withdrawals per month with a monthly limit of up to €10,000”)
  • “Zero fees” (“No FX fees for up to €20,000 per month“)

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Image Credit

Featured Image by “petre_barlea” via Pixabay

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