Guido Buehler, Chief Executive Officer at the Swiss-based SEBA Bank, believes bitcoin will hit a new record in 2022. According to the exec, institutional investments will be the key factor in this price rise.
The digital bank also raised $120million in Series C funding led by DeFi Technologies, Alameda Research and Alameda Research. The company pledged to use the funds for global expansion and product enhancements.
BTC to Touch $75K by 2022
According to CNBC’s estimates, Buehler, the head of SEBA Bank, a Swiss-based bank platform, said that bitcoin’s USD value could almost double in a recent interview. The institution envisaged a price range between $50,000 and $75,000
“Our internal valuation models suggest a price range of $50,000 to $75,000. “Our internal valuation models indicate a price right now between $50,000 and $75,000. I am quite certain we will see that level. Timing is everything.
Buehler believes that BTC will reach an all-time record due to institutional investors’ growing interest.
“Institutional money will likely drive the price up.”
Pascal Gauthier, CEO of crypto wallet Ledger, opined the same. According to him, bitcoin is now trusted by more investors than ever before, and it’s these people who will drive the price up.
Buehler is positive that bitcoin’s volatility will not decrease despite his bullish forecast. Because bitcoin is a risk asset, it had lost some ground in the past year. At the beginning of 2022, the 10-year US Treasury yield spiked, which prompted the decline of volatile financial products like the primary digital asset, SEBA Bank’s boss said.
Guido Buehler, Source: finews
SEBA’s new funding round
The $120 million round was led by notable organizations in the blockchain space. It was closed earlier this week. DeFi Technologies, Alameda Research, as well as investment firms Altive and Ordway Selections were all part of the round.
SEBA Bank stated that it will channel the funds in order to strengthen its presence in Hong Kong, Singapore and other markets. The company also plans to expand into other markets, such as the Middle East and establish a dedicated Abu Dhabi office.
Buehler said that the funding would allow Buehler to “further develop our digital asset bank platform and strengthen our presence on markets around the world by attracting new talent.”
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