Advertisement
AD

Main navigation

Messari CEO Predicts $100K Price Target for Bitcoin in 12 Months, Here's His Rationale

Advertisement
Fri, 17/03/2023 - 8:20
Messari CEO Predicts $100K Price Target for Bitcoin in 12 Months, Here's His Rationale
Cover image via www.youtube.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Amid the ongoing woes in the broader banking industry, Ryan Selkis, the co-founder and chief executive officer of data analytics firm Messari, has given a whole new bullish projection on the future price of Bitcoin (BTC). Taking to his Twitter handle, Ryan said he expects the premier digital currency to touch a price of $100,000 within the next 12 months.

Advertisement

As one of the few vocal advocates of Bitcoin in the U.S. today, the rationale provided by Ryan for the massive price target is centered on the potential acquisition by institutions.

According to the crypto executive, Bitcoin can be regarded as sound money amid the devaluation of the U.S. Dollar. Based on this, he noted that corporate firms — like MicroStrategy — can join in the accumulation of the cryptocurrency faster than federal regulators can shut down the asset.

"This is an optimistic bet on the future, as BTC is treated as a life raft and peaceful exit option. But the key is threading the needle so institutions can buy it and defend it alongside of us. Best case scenario right now," he said in the tweet.

Related
These Bitcoin (BTC) Price Indicators Might Signal Next Rally

Ambitious push for Bitcoin

Bitcoin's price has been on a downward slope since it hit its all-time high (ATH) above $68,000 back in November 2021. While a very harsh crypto winter was ushered in last year that has lasted to date, Bitcoin is generally experiencing more resilience at this time.

The leading digital currency is currently trading at a price of $26,219.25, up 6.35% over the past 24 hours to lead a new market rally today. While Ryan's projection is a mile away from this current price level, more market leaders and pro-Bitcoin advocates have also given similar projections, placing more traders' interest in the future performance of the coin.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles