Messari CEO predicts the growth of the BTC rate to $100 000 in 12 months

In addition, Ryan Selkis expects “more bank failures in the next couple of weeks”

17.03.2023 - 11:25

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1 min

Amid the ongoing woes in the broader banking industry, Ryan Selkis, the co-founder and chief executive officer of data analytics firm Messari, has given a whole new bullish projection on the future price of Bitcoin (BTC). Taking to his Twitter handle, Ryan said he expects the premier digital currency to touch a price of $100,000 within the next 12 months.

As one of the few vocal advocates of Bitcoin in the U.S. today, the rationale provided by Ryan for the massive price target is centered on the potential acquisition by institutions.

According to the crypto executive, Bitcoin can be regarded as sound money amid the devaluation of the U.S. Dollar. Based on this, he noted that corporate firms — like MicroStrategy — can join in the accumulation of the cryptocurrency faster than federal regulators can shut down the asset.

Ambitious push for Bitcoin

Bitcoin's price has been on a downward slope since it hit its all-time high (ATH) above $68,000 back in November 2021. While a very harsh crypto winter was ushered in last year that has lasted to date, Bitcoin is generally experiencing more resilience at this time.

The leading digital currency is currently trading at a price of $26,219.25, up 6.35% over the past 24 hours to lead a new market rally today. While Ryan's projection is a mile away from this current price level, more market leaders and pro-Bitcoin advocates have also given similar projections, placing more traders' interest in the future performance of the coin.

This material is taken from the website https://u.today.

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