BitGo CEO Predicts Bitcoin to Reach $135,000 by Year-End

By the end of 2024, the leading cryptocurrency is expected to be valued between $125,000 and $135,000, according to Mike Belshe, CEO of crypto custodian BitGo, in an interview with Kitco News.

He believes one of the catalysts for bitcoin’s growth will be the high level of U.S. government debt.

“Our macroeconomic climate continues to support the case for bitcoin. Without a doubt, U.S. government debt is out of control. […] This situation supports the idea that bitcoin is the gold of the new generation,” Belshe stated.

He also noted that the U.S. dollar is weakening as a global reserve currency due to U.S. foreign policy. The BitGo CEO believes the country uses the dollar as a weapon and a tool for manipulation.

Belshe emphasized that he neither supports nor opposes sanctions, but the example with Russia demonstrates to others that the U.S. could do the same to them in the future.

“Thus, the U.S. government debt crisis is one, foreign policy and sanction control is two. And then BRICS provides alternative payment systems. […] This is the story of why bitcoin exists,” he concluded.

Earlier, analysts at Standard Chartered predicted bitcoin would reach $100,000 by November. They added that if Donald Trump wins the U.S. presidential election, digital gold could soar to $150,000 by year-end.

Back in previous reports, former BitMEX CEO Arthur Hayes noted the changing macroeconomic backdrop and urged the purchase of the leading cryptocurrency.

According to Bitfinex experts, during the current bull market, bitcoin will form a peak at some point in the fourth quarter of 2024. They also noted the potential for further growth remains.

Robert Kiyosaki, author of the bestseller “Rich Dad, Poor Dad” and entrepreneur, predicted the leading cryptocurrency to reach $300,000 by August 25.