Another promising price prediction has appeared for Bitcoin bulls in 2022. Antoni Trenchev, co-founder and managing partner of Nexo, said that Bitcoin (BTC) could striking the $100,000 milestone as soon every bit the summer in an interview with CNBC.

Despite BTC opening the twelvemonth with surly toll activeness, while the Fearfulness & Greed Index shows "farthermost fear," the Bulgarian business organization mogul set the record straight:

"Every time that investors and the broader community write off Bitcoin, it outperforms significantly. This has been the case in 2022 when it rallied shut to ane,000% and in 2022 where it rallied 63%. I'm quite bullish on Bitcoin."

As i of the world's largest lending institutions in the digital finance manufacture, Nexo is privy to insights from serving two.five million users beyond 200 jurisdictions. As a competitor to platforms such equally BlockFi and Celsius, it has recently go one of the first crypto lenders to let customers to borrow stablecoins, Ether (ETH) and other cryptocurrencies using nonfungible tokens as collateral.

Related: Brock Pierce and Tom Lee tip $200K BTC in 2022, despite missing the marking in 2022

While Nexo was forged in the bear market of 2022, Trenchev said that access to "cheap money" and institutions filling their bags with cryptocurrencies volition propel Bitcoin over the $100,000 wall.

There'due south enough of evidence that institutional adoption is brewing. Last month, Fidelity Investments partnered with Nexo to offering crypto custodial services, products and lending services for institutional investors. On Monday, Sam Bankman-Fried, founder of FTX — which only listed the NEXO token — said that regulatory clarity would "aid a ton on institutional adoption."

In a nod to further Bitcoin adoption in developing countries, Trenchev ended by saying "Latin America is the affiche child" for cryptocurrency use cases. He joked that "all of them (countries) could be potential candidates for adopting cryptocurrencies every bit legal tender."