Guido Buehler, the Swiss bank SEBA CEO, said that Bitcoin’s price might nearly double to $75,000 this year.
According to his interview with CNBC’s Arjun Kharpal at the Crypto Finance Conference, he shared his thought: “I also agree that institutional money will probably drive the price up. We are working as a fully regulated bank at SEBA. We have asset pools that are looking for the right time to invest. They want, though, to have the right counterparty to make sure it’s fully regulated and a secure and trusted player. So we believe the price is going up”.
“Our internal valuation models indicate a price right now between $50,000 and $75,000,” SEBA CEO added, “I’m quite confident we are going to see that level. The question is always timing.”
After a period of continuous decline, the price of bitcoin plummeted below $40,000 on Monday. However, there have been some encouraging signals in recent days, with the Bitcoin price reaching over $43,000 on January 13th. BTC’s resurgence has been attributed to Jerome Powell’s guarantee that the Fed will boost interest rates to reduce inflation.
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