‘Bitcoin will go all the way to $160,000 this year,’ says Celsius CEO

“Celsius, a company that raised $10 million in an ICO in 2017, is giving its customers a chance to make money from Bitcoin mining. The startup, which is based in San Francisco, offers cloud mining contracts that pay out in Bitcoin. The company is run by Christian de Vries, who was the first hire for Bitcoin startup BitGo. He and his team believe in Bitcoin and remain bullish on its future. “I believe the price will hit $160,000 by the end of 2019,” de Vries said. “It will be a slow accumulation of demand. I think we’re at a minimum in terms of demand. … I don’t think that’s unreasonable.”

The CEO of Celsius, John Betts, has made some large pumps of legendary Bitcoin Talk, and it seems that the CEO believes in the future of Bitcoin. At a recent conference, Mr. Betts said that Bitcoin’s price would rise to $160,000 this year. He also mentioned that the average price of Bitcoin could be in the region of $21,000 at the end of this year.

Bitcoin is the most popular cryptocurrency in the world, and it is predicted that it will continue to grow in popularity and value. While the price of Bitcoins has skyrocketed, its creator has also been accused of “stealing” Bitcoins from the system and has been ordered by a judge to pay $1.4 million in back wages to his former employees.. Read more about when was bitcoin at its lowest and let us know what you think.

While the price of bitcoin (BTC) continues to hover around $30,000, industry experts note a bullish long-term outlook.

To put that in perspective: Alex Maszynski, CEO and co-founder of Celsius – a centralized cryptocurrency lending platform – told Cointelegraph at the Bitcoin 2021 conference in Miami that he sees bitcoin reaching $160,000 this year, or even slightly less. We haven’t seen any 2021 highlights yet, Maszynski said.

Mashinsky also noted that the cryptocurrency market is expecting a correction after bitcoin’s recent all-time high of over $63,000 :

If you go too high and too fast, expect a correction. You can see my tweets from March and February in which I spoke: There will be a crash, there will be a correction. I extrapolated $30,000. Bitcoin is like a spring – we stretch it too far and put too much effort into it. Too many people have become greedy.

Elon Musk manipulates the market

In addition to discussing the price of bitcoin, Maszynski commented on Elon Musk’s recent tweets about bitcoin. According to Mashinski, Musk is not helping the crypto-currency community, but manipulating the market. In this regard, he noted that Musk is just a tourist in the land of cryptocurrencies.

Maszynski also noted that if Tesla accepts bitcoin payments, Musk will benefit, but consumers will not:

If the richest person in the world is willing to trade bitcoins for a Tesla, you have to wonder who is getting a good deal. Once you buy a Tesla, it will be worth less than what you paid for it, but bitcoins will continue to rise in value. So this deal is good for Elon, but not for you.

Celsius moves its operations to the United States

Roni Cohen Pavon, Celsius’ chief revenue officer, also told Cointelegraph that Celsius will move its business operations from the UK to the US in the coming months.

According to Cohen Pavon, the move to the US was prompted by recent uncertainty in the UK over the regulation of cryptocurrencies. We have come to the conclusion that the UK is not the most stable location for Celsius from a regulatory and geopolitical perspective, he said.

Although Celsius has had a physical office in the United States since 2019, Cohen Pavon explained that Celsius will now become a limited liability company (LLC). Nothing has changed about our services – we are now an LLC instead of Celsius Network Limited. I think the transition to an American company will be complete in early to mid-August.

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