TL;DR Breakdown

• Wall Street brokerage firm CEO Anthony Denier has predicted that Bitcoin price would rise to $55,000 before the end of the year.
• The leading crypto asset was on a bull run that began in December 2020 into early this year.
• Fiat currency tendency to be affected by inflation would push more people into adopting the crypto asset.

Anthony Denier, the CEO of a Wall Street brokerage firm, Webull, has predicted that Bitcoin price will rise to $55,000 before the end of the year. He made this prediction in a recent interview he granted to BusinessInsider.

Bitcoin prices would rise before the end of the year

While the price of the crypto asset has dropped considerably in a recent while, however, the asset reached an all-time high of $42k in the early period of this year. Denier stated that he does not know if the value of the coin will drop further or if the asset’s value would be rising in a month or two, but he believes that in the long run, the asset’s value  is going to rise. 

The CEO also added that the coin’s future is exceptionally bright since institutional investors like CashApp and PayPal have invested in it. He highlighted that this would further boost the adoption rate of the leading crypto asset that has enjoyed support from millennials.

Denier said that fiat currency tendency to be affected by inflation will further help push more people to the coin.

Crypto adoption boosted by institutional investors

In 2020, we witnessed institutional investors’ entrance into the crypto industry as top institutions like Microstrategy, Square, Grayscale, and a host of others invested in the leading crypto asset.

The coin’s market cap currently stands at over $600 billion, far beyond that of top financial institutions like Visa, MasterCard, and Berkshire Hathaway.

Bitcoin price went on a bull run that began around the end of last year and into early this year. During this period, the asset reached new heights, and its run influenced that of the overall crypto industry too.