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$20,000 bitcoin price by year-end not impossible - Alex Mashinsky

Kitco News

Bitcoin has already moved up 50% since its September lows, but Alex Mashinsky, CEO of Celsius Network, sees the cryptocurrency moving to new all-time highs by year-end.

“I think we will hit new highs. There are very few assets that hold value and generate yield. Bitcoin is an exceptional source of such appreciation, up over 50% to year-to-date,” Mashinsky told Kitco News.

On the economy, Mashinsky said that we will have a “K”-shaped recovery where some sectors will perform well, but others will continue to lag.

“If you took the numbers that are being reported to you and you broke them into the digital economy and the non-digital economy, you would see that the upper part of the K is Amazon, Apple, and Zoom, and all the other services that are digital and those companies are not experiencing a recession, but almost every other business that isn’t digital is the bottom part of the K and it does have two or three quarters of decreasing revenues,” he said.

Mashinsky added that there is still capital flowing into the tech sector of equities.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.