Messari CEO: Bitcoin Will Reach $100,000 in Next 12 Months

Ryan Selkis, CEO of Messari, has stated on Twitter last week that the price of Bitcoin could reach $100,000 in the next 12 months, should the rate of institutional adoption increase.

On Monday, the rate of BTC fell to below $27,000, however, Selkis mentioned that the US dollar has weakened recently and more investors are turning to digital currency as a safe option.

Companies such as MicroStrategy have already noticed the vast potential of Bitcoin and have begun to increase their investment in it.

In addition, Selkis pointed out that due to the current macroeconomic instability and inflationary risks, the appeal of Bitcoin will rise.

Nonetheless, he has noted that because the digital currency is heavily dependent on the stock market, it should be seen as a volatile and speculative asset, the reliability of which will be bolstered in the long run.