This Year Bitcoin Will Set A New Record, Says SEBA Bank CEO Guido Buehler

JAKARTA - The CEO of Swiss-based SEBA Bank, Guido Buehler, predicts that Bitcoin will set a new record this year. Reportedly, the price of Bitcoin in 2022 will have doubled, around 75 thousand US dollars or equivalent to IDR 1.07 trillion per Bitcoin.

Furthermore, Buehler said that this increase occurred because more and more multinational investors were interested in Bitcoin. He also believes Bitcoin will reach that level and is just waiting for the right time.

"Our internal valuation model shows the current price is between US$50,000 (IDR 713.9 million) and US$75,000. I'm pretty sure we'll look at that level. The question is always about timing", Buehler said, quoted by CNBC Indonesia on Friday, January 21.

In 2021 ago, the price of Bitcoin had skyrocketed to 69 thousand US dollars or IDR 985.2 million in November. However, last week the price decreased to US$40 thousand, around IDR 574 million.

Although confident it will rise to the highest level, Buehler said that Bitcoin will still experience quite high fluctuations. The man also said that institutional investors will help Bitcoin rise in 2022. The CEO of SEBA Bank also said that it has assets to invest in.

On the other hand, the trend for retail investors is towards Bitcoin. The CEO of crypto wallet, Ledger Pascal Gauthier, said that investors will have more confidence in Bitcoin which will help increase the price of the coin.

“They are increasingly believing in Bitcoin and the people who will drive its price up”, said Gauthier.

On the other hand, the head of market insight at Genesis, Noelle Acheson, has said on several occasions in recent months that Bitcoin is a risky asset. It also sees the market experiencing fear of its surge in the last ten years.

"When the market is getting jittery, Bitcoin is falling. We see indications that market sentiment is a bit scared of a spike in 10 years, this is not good for any asset with high volatility in cash flow", said Acheson.