Messari CEO explains what could push Bitcoin to $100,000 in a year

Messari CEO explains what could push Bitcoin to $100,000 in a year

Ryan Selkis – CEO of crypto intelligence agency Messari – believes that there will be more negative events in the financial world in the near future, including bank crashes.

He sees Bitcoin as a “life raft and peaceful exit option” amid the disaster and predicts its price could rise to $100,000 in the next twelve months.

What does the future hold?

In a recent tweet Selkis shared his vision regarding the future state of finance and how these possible factors could affect Bitcoin.

He believes the ongoing banking crisis is far from over and predicts more collapses in the coming weeks. Silvergate Capital, Silicon Valley Bank and Signature Bank are among those recently shut down by regulators. SVB – one of the 20 largest financial institutions in the US before its collapse – filed for Chapter 11 bankruptcy protection on March 17.

Selkis predicted that the Federal Reserve would soon stop raising interest rates and focus on other monetary policy tools such as quantitative easing (QE) to combat inflation. It has yet to announce its decision on March 22next FOMC meeting.

QE is another policy that central banks could implement to reduce inflation rates. It allows them to buy government bonds and other financial instruments such as mortgage-backed securities (MBS) to improve stalled economic activity. Interestingly, the method is typically used when interest rates are near zero, rather than when they arereachedRecord values ​​like the 4.75% in the USA.

Bitcoin's reaction

The CEO of Messari believes that all these events could trigger a surge in the price of Bitcoin and push it to $100,000 next year. He sees it as a lifeboat and a “peaceful exit option” from all the turbulence that is currently shaking the financial system. According to him, reaching this milestone could become a reality once institutions are allowed to join and stay in BTC’s ecosystem:

“But the key is to thread the needle so institutions can buy it and defend it alongside us.”

Some crypto participants believe that the leading digital asset has already started a bull run since its valuation rose significantly during the US banking crisis. After all, it emerged in the midst of another major currency crash – the one in 2008 – and is intended to be an alternative to cracking down on centralized financial institutions.

While people's savings stuck in institutions could be exploited due to a bank run or other untoward event, Bitcoin's decentralized nature avoids this problem (especially if the supply is held in a cold wallet).

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