At the Crypto Finance Conference in St. Moritz, Switzerland, on Wednesday, Seba Bank CEO Guido Buehler discussed his bank’s forecast for bitcoin’s price with CNBC. The Swiss Financial Market Supervisory Authority (FINMA) has granted Seba Bank a licence to operate as a virtual currency banking platform. He also mentioned that they believe that price will rise,and their internal value algorithm suggests a price range of $50,000 to $75,000 right now.
“I believe so, while volatility remains strong,” Buehler said when questioned if his bank’s projection applies to bitcoin’s price in 2022 and if BTC would challenge some of last year’s record highs.
The CEO of Seba Bank went on to say that institutional investors will assist enhance bitcoin’s price in 2022. He expressed his opinion as follows:
“The price will almost certainly rise due to institutional money. At Seba, we operate as a fully regulated bank. We have asset groups that are waiting to invest at the correct time.”
Mike Novogratz, the CEO of Galaxy Digital, indicated last week that institutional investors are showing a strong interest in cryptocurrencies. They feel that additional regulation would drive up the price of cryptocurrencies, according to a new poll by Nickel Digital Asset Management.
Furthermore, Goldman Sachs, a worldwide investment firm, projected this week that bitcoin’s price might hit $100,000 as BTC continues to eat into gold’s market share as a measure of wealth.
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