- CEO of centralized finance platform Celsius Network predicts that Bitcoin and gold will hit a six-figure price in 2022.
According to Alex Mashinsky, CEO of centralized finance platform Celsius Network, the main cryptocurrency and gold might skyrocket next year to a six-figure price.
In a Kitco News interview, Mashinsky claims that as the money supply expands and fiat currency debasement accelerates, fiscal and monetary policies in the United States would support Bitcoin (BTC) and gold in 2022.
Federal will try to put BTC in Pandora’s box
Alex Mashinsky believes to see asset classes like “Bitcoin and gold take a knock first if we see inflation continue to increase and the Fed really locking horns with inflation, attempting to put it back in Pandora’s box.”
He predicts Bitcoin to blow higher again next year, from $140,000 to $160,000.
“When people realize that they are the true, only two assets that are not related to the mothership, the dollar.” He predicts, “gold to move much higher than $2,000 and stay above those levels.”
He added, “They may then recover and climb higher. But I believe that if tapering occurs and interest rates increase, everything would suffer first.”
The Federal Reserve Bank’s attempts to combat inflation and wind down asset purchases. According to Mashinsky, may cause Bitcoin and gold to decline first before recovering.
Alex Mashinsky says “we have to wait for a few months to see volatility if inflation is out of control double digits then gold and bitcoin are going to become even bigger safe assets but if it is single-digit inflation and the fed is fighting it then all assets will lose value but if fed decided that inflation is not an issue than all asset prices are going to get up.”
Bitcoin will reach a six-figure price in 2022
Alex Mashinsky also added that he wasn’t surprised with the fact that more dollars were printed last year than any other time in history. He says that the dollar is the reserve currency of the world so converting your assets into dollars is a smart move because the dollar is strengthening. Although, the United States is printing trillions of dollars.
- The United States Department of Treasury and the Federal Reserve Bank will continue to recapitalize, and as a result, Bitcoin and gold will go much higher sooner or later, because people will realize that they’re being taxed and then debased.