$ 83,877.4
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Jan 13, 2022
Swiss Bank Seba Predicts Bitcoin Could Hit $75K
At the Crypto Finance Conference in St. Moritz, Switzerland, on Wednesday, Seba Bank CEO Guido Buehler shared his bank's forecast for bitcoin's price with CNBC. The Swiss Financial Market Supervisory Authority has granted Seba Bank a license to operate as a digital asset banking platform (FINMA).
Regarding the price of bitcoin this year, he said:
“We believe the price is going up. Our internal valuation model indicates a price right now between $50,000 and $75,000.”
“I’m quite confident we are going to see that level. The question is always timing,” he noted.
When asked if his bank’s prediction refers to the price of bitcoin in 2022 and whether BTC will test some of the record highs seen last year, Buehler replied: “I think so, though volatility remains high.”
The CEO of Seba Bank went on to say that institutional investors will assist enhance bitcoin's price in 2022.
He discoursed:
“Institutional money will probably drive the price up. We are working as a fully regulated bank at Seba. We have asset pools that are looking for the right time to invest.”
Last week, Galaxy Digital CEO Mike Novogratz stated that institutional investors are showing a strong interest in bitcoin. Institutional investors feel that tighter regulation will boost the price of cryptocurrencies, according to a recent poll conducted by Nickel Digital Asset Management.
Meanwhile, Goldman Sachs, a major investment bank, projected last week that bitcoin's price may hit $100,000, as BTC continues to eat into gold's market share as a store of value.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Prabhjeet Bhatla is a cryptocurrency writer covering startups and a researcher since 2020. She has authored many articles for Entrepreneur India and APAC (digital and print) on cryptocurrency and ever-evolving Blockchain, the technology behind Bitcoin, and other cryptocurrencies. She specializes in applied cryptography, privacy-enhanced information storage systems, anonymous cryptocurrencies, elliptic curve crypto-systems, and satellite television piracy.