Alex Mashinsky, the CEO of Celsius, a crypto lending platform, has reiterated his bullish prediction on Bitcoin (BTC), the largest cryptocurrency by market cap.
In a new interview with Yahoo Finance, Mashinsky stated that Bitcoin has not changed its course from ending this year somewhere between $140,000 and $160,000. He added that he sees being a store of value as the major use case of the flagship cryptocurrency.
Read Also: Crypto Michael States Key Price Levels Bitcoin (BTC) Must Hold To Maintain Bullish Momentum
Alex Mashinsky noted:
“Bitcoin’s main purpose is a store of value, right. It’s not an exceptional form of payment. I think the dollar is the opposite. It’s an exceptional form of payment but not a very good store of value. I think there are many cryptocurrencies or digital assets that serve that purpose better, mostly stablecoins and other forms of digital assets.
“So I don’t think we should take this pristine asset and try to use it to clean the windows or something else with it. It’s very good for one thing and that’s store of value, and that’s what you should be using it for.”
Bitcoin (BTC) To Record New All-Time Highs after Breaking $45,000 Resistance
Alex Mashinsky stated further that Bitcoin (BTC) will need to break above $40,000 and $45,000, which he thinks are the most challenging resistances.
Read Also: Elon Musk Confirms Tesla Will Start Accepting Bitcoin Again, BTC Skyrockets
The Celsius CEO says after breaking these resistances, BTC won’t face any tough resistance levels until it records new price all-time highs:
“I think we are also hitting some resistance here in the $40,000 to $45,000 levels, and there is not a lot of resistance above that, so I think we’re going to consolidate here and break to new highs. I still stand by my prediction that this year we’ll see anywhere between $140,000 and $160,000 per Bitcoin.”
Follow us on Twitter, Facebook, Telegram, and Download Our Android App