Nexo co-founder predicts Bitcoin at $50,000 in 2020

by in Cryptocurrency News

Antoni Trenchev

Recently on January 3rd Antoni Trenchev who is one of the creators of the crypto company called Nexo sat with Bloomberg TV. During it, he emphasized that the year 2020 could be Bitcoin’s year to bloom and predicted that it could see its value rise to as high as $50,000.

Antoni was questioned that what the next decade has in store for Bitcoin after all in the last 10 years its value increased to as high as 9 million percent.

To this, he replied that the future looks quite bright for Bitcoin. He stated that the analysts in his company are carrying out numerous and thorough studies to find out what more Bitcoin can offer. He mentioned that since the prizes for miners are dropping and just half is coming up this could act as a positive sign because the last time this happened Bitcoin saw a very drastic rise in its value. He also said that bitcoin is a very great possession to have as it is not related to the complete marketplace as a result offers systemized returns.

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Then the interviewer inquired why is Bitcoin unable to replace the current procedure of payments.

Answering this query Trenchev said that the objective at first with Bitcoin was to pay your coffee bill with it, however, it was unable to implement it in practical life. Furthermore, he said that Bitcoin is now perceived much more like gold. If Bitcoin is treated like gold and takes over just 10% of gold’s market, then that alone will be enough to take Bitcoin to $50,000. Lastly, he said that just like you buy gold in grams or ounces according to your purse, you can also buy Bitcoin in Satoshis!