Alex Mashinsky, CEO of digital asset lending company Celsius Network, predicts bitcoin will reach $100,000 by the end of 2021, but warns traders about using this as a payment method.

Mashinsky said in a conversation with Kitco News that bitcoin is a store of wealth that has increased year after year and has the possibility for more development. Given his suspicion, Mashinsky acknowledges that bitcoin is becoming more popular as a method of payment.

He urged digital currency investors to take a lesson from Tesla, an electric car maker that enables consumers to purchase vehicles in bitcoin. He goes on to say that Tesla (NASDAQ: TSLA) intends to store the property, implying that it will appreciate in value in the future.

Bitcoin is expected to reach $100,000 by the end of the year.

Premium Photo | Nice bitcoin gift in a red box

Mashibsky also said that the digital currency environment has the ability to accelerate bitcoin’s increasing development. One of the biggest factors, he said, was the public offering of Coinbase. According to Mashinksy, the value of bitcoin has strengthened and is expected to rise to around $100,000 by the end of the year  2021.

“Coinbase is going public next week. I think there’s going to be millions of people when they hear it in the news, and they’re all going to be scratching their heads saying I missed the window or they’re going to fall more into it than buy more. I think we have a little bit of a pause. I mentioned that I see us going all the way to $160,000 but ending the year below $100,000 or ending the year at $90,000 to $100,000. So there’s still a lot of upsides, but I see Bitcoin ground higher,” said Mashnsky.

Other executives would not be able to pursue Tesla’s lead in investing in bitcoin, according to the manager. This follows Tesla’s $1.5 billion bitcoin investment.

Elon Musk, as CEO of Tesla, has more power, as per Mashninsky, and can determine whether or not to purchase bitcoin. He went on to say that the existing institutional players in bitcoin are still outliers. Mashninsky claims that other corporations’ boards of directors would find it difficult to encourage CEOs to participate in bitcoin.


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