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Alex Mashinsky: Bitcoin to rise to $ 160,000 this year –

Alex Mashinsky, CEO and co-founder of Celsius, a centralized cryptocurrency lending platform, told Cointelegraph that he believes Bitcoin will rise to $ 160,000 this year.

Alex Mashinsky: BTC will be $ 160,000 each

While the price of Bitcoin (BTC) is still hovering around $ 30,000, industry pundits still say the long term is going very well.

Alex Mashinsky, CEO and co-founder of Celsius, spoke with Cointelegraph, which took place at the Bitcoin 2021 conference in Miami, stated that he believes Bitcoin will hit $ 160,000 this year.

He also noted that the cryptocurrency market actually had to go through the current correction, after BTC rose to over $ 60,000.

– When you go too high and too fast, you are bound to correct. You can see my tweets in both March and February saying “we’ll have declines, we’ll have a correction.” I was forecasting $ 30,000. Bitcoin is like a spring (…). Too many people have become greedy – He said.

Elon Musk manipulates the market

In addition to discussing the current Bitcoin price, Mashinsky commented on Elon Musk’s recent tweets on cryptocurrency. According to him, Tesla’s CEO is not helping the cryptocurrency community and manipulating the market. Consequently, he noted that Musk is simply “tourist” in the land of cryptocurrencies.

In addition, he added, Tesla accepting Bitcoin payments may benefit Musk, but not consumers.

– If the richest guy in the world is willing to trade Bitcoin for Tesla, you have to ask yourself who is getting the good deal? The moment you buy this Tesla it is worth less than what you paid for it, but the value of Bitcoin will continue to rise. So this deal is good for Elon, but it’s not good for you – he said.

Celsius moves its business to the US

In turn, Roni Cohen Pavon, Celsius chief financial officer, told Cointelegraph that the company will move its business from the UK to the US. This is expected to happen in the coming months.

According to Cohen Pavon, the move to the US is due to regulatory uncertainty in the UK.

– We concluded that the UK is not the most stable place for Celsius in terms of regulations and geopolitical outlook – He said.

Although Celsius has a physical office in the US since 2019, Cohen Pavon explained that Celsius will now become a limited liability company.

– Nothing changes in our services – we are now LLC instead of Celsius Network Limited – added.

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