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Tether’s Chief Technology Officer (CTO) Paolo Ardoino A interview with cnbc said that Bitcoin It may reach an all-time high amid the current banking crisis.
Bitcoin reached an all-time high of over $69,000 on November 10, 2021, before testing $15,000 by the end of 2022. including banks The collapse of Silicon Valley Bank in America,
Bitcoin is breaking away from traditional financial markets
During the interview, Ardoino began by saying that “Bitcoin is breaking away from traditional financial markets at the moment.”
Ardoino continued to say:
“The geopolitical situation we’re in, the banking industry situation we’re in, I think people are scared. So when banks are running out all over the world, I think bitcoin is the only asset you can really own. You can hold in your hardware wallet and it is a hedge against everything that could happen or has happened in the past months or could happen in the future.
BTC would need to gain about 151% to reach its all-time high, with Ardoino believing that “banking industry fears are driving the price at the moment.”
Bitcoin price forecast amid banking crisis
Ardoino, however, was skeptical about a recent bet by venture capitalist and angel investor Balaji Srinivasan that bitcoin would hit $1 million in the next 90 days. Ardoino said:
“I know there is a bet on bitcoin that it can reach $1 million in 90 days. I doubt it because to be honest I can’t even expect it… because if bitcoin reaches such a high price level reached, it would mean the entire economy would collapse. And I’m not sure that’s a word we want to live in.
Tether’s CTO bitcoin forecast comes days later Goldman Sachs Ranks Bitcoin as Top Performing Asset And GlobalBlock (TSXV:BLOK) market analyst Markus Sotiriou said that The recent bitcoin price surge was driven by the US banking crisis.,
