Celsius Network CEO Alex Mashinsky said in an interview with Kitco News that in 2022, Bitcoin and Ethereum will hit all-time highs as a result of capital flight from the stock market to cryptocurrencies, while digital gold will cost more than $100,000.

According to the top executive, bitcoin has begun to act as a protective asset, so it is redistributed its savings from equities to digital gold.

“Since the beginning of the year, the stock market has been falling, but bitcoin has actually recaptured most of the losses. We see a difference between cryptocurrencies and the traditional market. This shows that bitcoin has become a “safe haven”. It’s time for everyone to go their own way. fed The US puts massive pressure on the economy by raising interest rates […] and take liquidity from the market”said.

Mashinsky noted that against the background of the isolation of the ninth largest economy – Russia – the situation in the whole world is deteriorating. According to his projections, in 2023 US GDP growth will turn negative and the Fed will remain weak.

The Celsius Network CEO believes that cryptocurrencies “need to look good” in a crisis. The expert is waiting for the flow of funds from the traditional market to digital assets. “Bridges” like the protocol developed by his team can help with this.

“All assets are inflated – real estate, bonds, stocks – it doesn’t matter, you can’t hide money anywhere! Even if you want to buy commodities, prices are near record high for most of them. Where will you “park” your capital? The best way is to enter an industry that has nothing to do with the US dollar – bitcoin to transfer to.explained.

Recall that Elon Musk announced that he is holding cryptocurrencies in anticipation of increased inflation.

Earlier, Jiang Zhuer, founder and CEO of BTC.TOP pool, described the disconnection of Russian banks from SWIFT and other financial sanctions against the Russian Federation as a positive factor for digital assets.

Technology analyst and Factor LLC chairman Peter Brandt predicted that Bitcoin will return to the bull market in May 2024.

Galaxy Digital founder Mike Novogratz has warned that digital gold will “rise again” as the Fed pauses monetary policy tightening.