Prominent investor and co-founder of Nexo, Antoni Trenchev, have speculated that Bitcoin will hit a $50,000 all-time high by Q4 2020, he mentioned this while participating in an interview at the Block Down conference.
Trenchev explained that his platform in recent time has experienced rapid usage by Investors and institutions, he noted that this rapid usage was toward Bitcoin and would serve as a drive which would push Bitcoin to reach an all-time high.
Talking about those who invest in Bitcoin, the Investor reiterated that they are a mixed set of people who venture into the king coin business, as everyone in recent times seems to be interested in the crypto market.
Trenchev stated that the increased interest by investors to invest in Bitcoin was triggered by the statement of Billionaire Hedge fund manager, Paul Tudor Jones.
He explained that the statement by Jones that his Hedge fund has parts of their asset in Bitcoin has caused a rapid expansion into Bitcoin by investors.
According to Trenchev, Jones declarations will have lasting impacts on the abduction of the pioneer cryptocurrency. The Investor who declared his interest in Bitcoin after the king coin recovered from the recent collapse in the crypto and traditional market explained that Bitcoin is like gold referring to the 1970s when the financial derivative market for gold went life.
Support for Bitcoin through “Infinite money policy”
Talking about the recent “Infinite money policy” proposed by the US Federal Reserve as part of their measures to curtail the effect of the novel coronavirus, Trenchev opined that the idea will be of high benefits to BTC, stressing that the limited supply of Bitcoin makes it’s the principal alternative for combating Inflation.
Trenchev added that in the adoption of Bitcoin to fight inflation through the “Infinite money policy” will push Bitcoin to $50,000 before the year 2020 runs out.