The government-controlled Swiss financial institution Seba has estimated that the price of bitcoin could reach $75K in the next year. “Institutional money will probably drive the price up” said the bank’s CEO.
Seba Bank CEO Guido Buehler disclosed his bank’s estimates on the cost of bitcoin and how it is putting on CNBC at the Crypto Finance Conference in St. Moritz, Switzerland, on Wednesday. Seba Bank is a Swiss Financial Market Supervisory Authority-licensed digital asset banking platform (FINMA).
Concerning bitcoin’s price during the year of 2022, Guido Buehler stated:
We believe the price is going up. Our internal valuation model indicates a price right now between $50,000 and $75,000. I’m fairly optimistic we’ll see that level.” “The issue is always timing
Buehler responded, “I guess so, though volatility remains strong,” when asked if his bank’s prediction pertains to the price of bitcoin in 2022 and whether BTC will test some of the record highs witnessed last year.
The Seba Bank CEO went on to say that institutional investors will assist enhance bitcoin’s price in 2022. He stated:
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.
Galaxy Digital CEO Mike Novogratz stated last week that his company anticipates great demand for cryptocurrencies from institutional investors. According to a recent poll conducted by Nickel Digital Asset Management, institutional investors feel that increased regulation will increase the value of cryptocurrencies.
Meanwhile, Goldman Sachs, a worldwide investment bank, projected last week that the price of bitcoin might hit $100,000 if BTC continues to eat into gold’s market share as a store of value.