Alex Mashinsky, CEO of blockchain-based lending platform Celsius Network, discussed Bitcoin and its regulatory stance towards the industry in a recent interview.
CEO Mashinsky, who describes himself as a Bitcoin maximalist, uses the following statement about Bitcoin.
"We've passed trillions of dollars in market cap for cryptocurrencies, half of which are protected by Bitcoin. So obviously Bitcoin is doing something right."
"Most Altcoin Projects Will Fail!"
Alex Mashinsky thinks that most of the tens of thousands of altcoin projects will fail and states that he supports the leading cryptocurrency Bitcoin and several altcoin projects.
In addition to these thoughts, Mashinsky stated that when it comes to adoption, most people “They just can't find the right entry point …”. He said they don't know how to deal with highly volatile assets like Bitcoin.
"Everyone is Safe with Bitcoin and Ethereum"
Noting that the flagship cryptocurrency Bitcoin and the leading altcoin Ethereum are not decentralized enough, Mashinsky stated that this situation keeps BTC and ETH away from the discussions of being “securities”.
Mashinsky also stated that there are still questions about other assets, but that absolutely everyone thinks they are safe with Bitcoin and Ethereum and is not worried about them being seen as securities.
"Bitcoin May Reach A New High Around $140,000"
Alex Mashinsky said that Bitcoin could reach a new high of around $140,000 before April 15, 2022.
Alex Mashinsky, CEO of Celsius Network, told Kitco News that the price could go up to $160,000 and create a selling environment as investors aim to cash out Bitcoin.
However, the executive added that the selling pressure will trigger a decline in the second quarter of next year. Mashinsky predicts that it will eventually lead to a correction to $80,000. Alex Mashinsky, CEO of Celsius Network, said:
"So next year we'll hit the breakout point of $140,000 to $160,000. It could be before tax day, before April 15th, or we could slip into Q2. I think there are too many sellers at this level. We'll probably test again. The bottom is a new one of $80,000 to $90,000. It will be the top.”