The leading Bank of Switzerland Seba has predicted that the Bitcoin can reach as high as $75K this year as the institutional money is being poured in fuelling the price rise.
Guido Buehler, CEO of Regulated Swiss Bank Seba in an interview with CNBC at the Crypto Finance Conference in St. Moritz, Switzerland when asked about his opinion on the price of Bitcoin said “We believe the price is going up. Our internal valuation model indicates a price right now between $50,000 and $75,000”. The CEO claimed that he was very confident about Bitcoin’s price heading to that level.
On asking the reason for the prediction, he indicated that the institutional adoption of Bitcoin is on the rise and this will fuel the price hike in the near future. In the statement he said “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.”
Meanwhile, the global investment bank Goldman Sachs earlier predicted the price to reach $100K as the Bitcoin keeps on taking the Gold Market. Switzerland has adopted a very lenient approach to the crypto industry and is a firm believer and supporter of blockchain technology and the advancements that it can provide in every industry of the world.
Disclaimer: The article is meant for the educational purpose only and in no way it should be considered as financial advice. Own research on the topic is advisable.
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