Celsius Co-Founder Says Bitcoin To Reach $160K This Year

The price of Bitcoin (BTC) will hit $160,000, says co-founder of Celsius. Alex Mashinsky, who is also the chief executive officer, says that other industry experts agree with him when he says Bitcoin is showing bullish potential.

Celsius is a centralized cryptocurrency lending platform headquartered in the UK with an office in the US. Mashinsky interviewed with Cointelegraph at the Bitcoin 2021 conference in Miami. Here, he mentions that Bitcoin will reach $160,000 this year.

This highlight from the conference seems to have been overshadowed by El Salvador’s news of making BTC a legal tender. However, it seems Mashinsky stresses on the fact that we are yet to see Bitcoin’s highest price this 2021.

Also, Mashinsky even said that he predicted the recent crypto crash. First, he put the word out in multiple tweets back in February and March. Then, he notes that the crash was inevitable after Bitcoin’s ATH of over $63,000.

Bitcoin is like a spring – we stretch it too much and we put too much leverage. Too many people got greedy.

Moreover, Mashinsky says Elon Musk is not helping the crypto market. Claiming Musk is just a tourist in the land of crypto, Mashinsky frames Musk as the one who is manipulating the crypto market. In fact, Mashinsky says Tesla accepting BTC payments will benefit Musk and not his consumers.

This to Mashinsky, is obvious, as once a BTC payment to buy a Tesla is complete, the consumer now owns a car that is worth less than its payment. Meanwhile, Musk is collecting more and more BTC which will ultimately only increase in value. Lastly, Roni Cohen Pavon, Celsius’s chief revenue officer shares about the company’s plan to shift operations completely to the USA. The brand believes that it is smarter to move to the US since the UK is presently showing uncertainty for crypto companies. Furthermore, Celsius will also become a limited liability company (LLC) instead of its previous Celsius Network Limited.

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Source: https://coinquora.com/celsius-co-founder-says-bitcoin-to-reach-160k-this-year/