Mike Belshe: Bitcoin will cost $ 135,000 by the end of the year

Mike Belshe, CEO of BitGo, has suggested that by the end of 2024, the value of the first cryptocurrency BTC $95,840.60 Bitcoin -0.94% Market capitalization $1.9 trillion VOL. 24 hours $2.39 billion could reach $ 125,000 to $ 135,000. In an interview with Kitco News, he noted that one of the catalysts for bitcoin’s growth will be the high level of the US public debt.

«Our macroeconomic climate continues to support the thesis that bitcoin is necessary. There is no doubt that the US national debt is getting out of control. This situation is conducive to the idea that bitcoin is the next generation of gold,» Belshe said.

He also noted that the US dollar is weakening as a global reserve currency due to US foreign policy. Belshe believes that the country is using the dollar as a weapon and a tool for manipulation.

The BitGo CEO emphasized that he neither supports nor opposes sanctions, but the example of the terrorist state Russian Federation seems to demonstrate to other countries that the US can do the same to them in the future. «Thus, the US sovereign debt crisis, foreign policy and sanctions control, as well as alternative payment systems of the BRICS are the story of why bitcoin exists,» he summarized.

Earlier, Standard Chartered analysts predicted that bitcoin would reach $ 100,000 in November. If Donald Trump wins the US presidential election, digital gold could soar to $ 150,000 by the end of the year. Former BitMEX CEO Arthur Hayes noted the change in the macroeconomic background and called for the first cryptocurrency to be bought.

Bitfinex experts believe that during the current bull market, bitcoin will form a top at some point in the fourth quarter of 2024 and note the potential for further growth. Robert Kiyosaki, the author of the bestselling book Rich Dad, Poor Dad, predicted bitcoin to reach $ 300,000 by August 25.