Pro-Bitcoin bankers! – If banks have long denigrated Bitcoin (BTC) and cryptos outright, without trying for a second to understand them, the past year has seen a few of them stop their denial of reality on this opportunity. Very recently, it was the director of the Swiss bank SEBA Bank who became bullish (bullish) on Bitcoin.
The easily attainable $75,000 for Bitcoin
Although the course of bitcoin almost familiar with the $70,000 during the month of November 2021, it is well come down since, even if the support of the $40,000 has held up well at the time of this writing.
This does not prevent Guido Buehler, CEO of the Swiss bank SEBA Bank, to stay very optimistic on future bitcoin prices. In an interview with the CNBC channel, the banker explains that he sees a BTC reaching the $75,000 this year 2022, thanks to a strong investment impulse from institutional.
“We think the price [de Bitcoin] will increase. (…) Our internal valuation models indicate a [juste] price which would be at the moment between 50,000 and 75,000 dollars (…) I am quite confident that we will see this level. The whole question is more about timing. »
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Institutions, the locomotive of the Bitcoin bull run?
Mr. Buehler thinks that fresh money from institutional investors could happen any moment in the cryptocurrency market, and in the first place in Bitcoin.
“Institutional money will likely push the price up (…) We operate as a fully regulated bank. We have asset managers who are on the lookout for good times to take action and invest. »
No doubt the recent correction of the prices of BTC and the crypto market has been among these good opportunities for institutions.
Even though the volatility of the BTC price “stay high”, Guido Buehler believes that its underlying technologies – distributed ledger technology (DLT) in particular – go radically “redefining finance”.
Swiss banks seem to be the most advanced when it comes to adopting the cryptocurrency world. In October 2021, it was SEBA Bank that revealed that it would pay dividends in cryptocurrencies to its customers, via its banking offer. SEBA Earn which earns interest rates on Bitcoin and Ethereum (ETH) deposits.
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