Metafide CEO Frank Speiser Predicts Bitcoin Will Hit $100K by End of 2024
- 王林Original
- 2024-08-14 12:47:21684browse
On August 13, Frank Speiser, the CEO of Metafide, shared his insights and predictions on Bloomberg TV during an interview with Tim Stenovec and Katie Greifeld.
Metafide CEO Frank Speiser shared his cryptocurrency market predictions in an interview on Bloomberg TV with Tim Stenovec and Katie Greifeld on August 13. Speiser predicted that Bitcoin could reach $100,000 by the end of 2024, thanks to new market participants and sustained buying pressure from spot Exchange-Traded Funds (ETFs). He also discussed the concept of a strategic Bitcoin reserve, an idea that gained attention after former President Donald Trump proposed it.
According to Speiser, several factors could contribute to Bitcoin reaching $100,000. These include the presence of new market participants, such as nation-states and spot ETFs, which are significantly influencing the market dynamics. Speiser explained that nation-states, perhaps influenced by former President Trump’s call for a strategic Bitcoin reserve, could become major buyers, driving up demand. At the same time, spot ETFs continuously purchase Bitcoin whenever prices dip, ensuring sustained buying pressure in the market.
With Bitcoin’s supply fixed and these new buyers emerging, Speiser believes these factors, coupled with the continuous purchases by spot ETFs, could push the price significantly higher. Unless a major economic downturn occurs, these factors are likely to drive Bitcoin’s price to the $100,000 mark, he said.
During the interview, Speiser also discussed the concept of a strategic Bitcoin reserve, which gained traction following former U.S. President Donald Trump’s proposal. Speiser explained that traditionally, countries have held foreign currencies, like the US dollar, as part of their reserves. However, he suggested that Bitcoin could serve as a neutral alternative, enabling nations to settle international transactions without relying on traditional fiat currencies. This, in turn, could provide countries with more flexibility in navigating global politics, especially as Bitcoin continues to gain wider adoption and capitalization.
Moving on, Speiser shared his expectations for Ethereum, predicting that its price could reach $4,000 by the end of the year. He pointed to Ethereum’s supply, which is nearing its all-time high, as a key factor in his prediction. With limited additional issuance expected, Speiser believes the stable supply could create favorable conditions for price increases.
Additionally, he highlighted the introduction of spot Ethereum ETFs in the U.S., which is expected to contribute to increased buying pressure in the market. As these funds acquire Ethereum to back their shares, and with staking on the Ethereum network (locking up Ethereum to validate transactions) reducing the available supply, demand is further driven.
Finally, Speiser briefly touched on Metafide’s role in the cryptocurrency ecosystem. Metafide is known for providing blockchain ratings and also leverages AI to generate financial predictions. These predictions combine human intuition with AI algorithms to forecast market movements, offering valuable insights to both retail and institutional investors.
The above is the detailed content of Metafide CEO Frank Speiser Predicts Bitcoin Will Hit $100K by End of 2024. For more information, please follow other related articles on the PHP Chinese website!