Swiss-regulated bank Seba has predicted that the price of bitcoin could hit $75,000 this year. “Institutional money will likely push prices up,” the bank’s CEO said.
Seba Bank Bitcoin Price Prediction
Seba Bank CEO Guido Buehler shared his bank’s prediction of bitcoin’s price direction with CNBC at the Crypto Finance Conference in St. Moritz, Switzerland on Wednesday. Seba Bank is a digital asset banking platform approved by the Swiss Financial Market Supervisory Authority (FINMA).
Regarding the price of bitcoin this year, he said:
We think the price is going up. Our internal valuation model indicates a price currently between $50,000 and $75,000.
“I’m pretty confident that we’re going to see this level. The question is always timing,” he noted.
When asked if his bank’s prediction referred to bitcoin’s price in 2022 and whether BTC would test some of the highs set last year, Buehler replied, “I think so, although volatility remains high. “
The boss of Seba Bank further explained that institutional investors will help drive the price of bitcoin higher in 2022. He said:
Institutional money will likely drive prices up. We work as a fully regulated bank at Seba. We have asset pools looking for the right time to invest.
Last week, Galaxy Digital CEO Mike Novogratz said his company is seeing huge demand from institutional investors for cryptocurrency. A recent survey by Nickel Digital Asset Management revealed that institutional investors believe increased regulation will increase the price of cryptocurrencies.
Meanwhile, global investment bank Goldman Sachs predicted last week that bitcoin’s price could hit $100,000 as BTC continues to take gold’s market share as a store of value.
Do you agree with Seba Bank on bitcoin price and institutional demand? Let us know in the comments section below.
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