He founded Arbinet in 1996 as a commodity exchange for telecommunication companies to trade unused long-distance minutes. But if the Bitcoin purchase doesn’t bother them and they sleep like a baby, they haven’t bought enough Bitcoin. Alex Mashinsky is an entrepreneur who has founded several notable technology firms in the United States. As per him, if an investor buys BTC and is unable to sleep, they have too much Bitcoin. Rod Bolger, Chief Financial Officer 'I am thrilled for the opportunity to join such a fast growing mission-based company such as Celsius,' said Rod Bolger. Mashinsky also talked of a simple trading strategy that traders could adopt while trading Bitcoin. And sometimes you need to use CeFi, sometimes you need to use DeFi, and that’s what Celsius does every day.” CeFi and DeFi are two sides of the same coin. Mashinsky commented, “He’s basically saying, look, we don’t have to be 100% DeFi. Mashinsky also gave his views on Vitalik Buterin’s comment that the crypto sphere needed semi-centralised solutions. But I still expect us to break that $60,000 this year on Bitcoin, break the $4,500 on Ethereum.”īesides the price predictions, the Paris Summit discussion also concerned other topics related to the debate surrounding decentralised finance vs centralised finance. He says, “It's going to take us longer to hit new highs. Mashinsky cited that the actions of the US Federal Reserve were the other reason for a possible negative turnout.ĭespite the misgivings, the Celsius CEO remains optimistic that both Bitcoin and Ether will attain new ATHs this year. As per him, if the Russia-Ukraine war continues, the pressure will be visible on the markets. Mashinsky didn’t ignore the ‘clouds in the sky’ that might affect BTC’s performance. Mashinsky said the adverse macroeconomic factors ruined his predictions. Last year he had made similar predictions that Bitcoin would touch the $1,00,000 mark in 2021 but the cryptocurrency witnessed a huge slump post its November ATH and lost half its value. He felt that if many other people copied Terra’s example, BTC’s prices would rise further. Terra’s recent acquisition of $10 billion worth of bitcoins for the treasury reserves of its stablecoin TerraUSD acted as a catalyst in driving Bitcoin’s prices higher. He affirmed that the traditional finance sector would play a key role in sending Bitcoin’s prices soaring. He said that Bitcoin received strong support around $30,000-$33,000 levels because the demand for Bitcoin remains and that there are slight chances of it revisiting its previous levels. Mashinsky shared insights on why he feels his predictions will materialise this year.
The discussion happened between the Celcius CEO and Cointelegraph’s Joseph Hall. Image: Piaras Ó Mídheach/Sportsfile for Web Summit via Getty ImagesĪt the recently concluded Paris Blockchain Week Summit, Alex Mashinsky, CEO of Celcius Network–the popular crypto lending service–said that Bitcoin and Ethereum will reach their new all-time highs this year.
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