Bankman-Fried will accept Bitcoin for $35k by the end of the year

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Bitcoin has been trading above the $20k level for the past few weeks and Sam Bankman-Fried says he will accept leading cryptocurrency trading around $35k by the end of the year.


Sam Bankman-Fried, the CEO of FTX, revealed in a recent interview with Fortune Magazine that he would accept Bitcoin trading around the $35k region by the end of the year.

Bitcoin hit a record high of $69k in November 2021, but has since lost more than 60% of its value. At the time of writing, Bitcoin is trading close to the USD 23k level after recovering from its recent losses.

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When asked about his predictions for Bitcoin and Ether and whether BTC would soon reach $100k, Bankman-Fried said;

“Boy, Ethereum is interesting. Obviously with the impending merger⁹ there is tremendous volatility, right? I think it could get much better or much worse – I just don’t know the answer.

I think Bitcoin is a little easier to predict. When there is more pain and more liquidations, that changes. But a little more recovery from the carnage and regulatory clarity – that could be a big exogenous shock, a positive shock that could come the next year. We’d be lucky if we hit $100K, but I’m not ruling it out. But you know, if you told me at the end of the year that Bitcoin will be $35K, I’d fucking take that.

SBF added that he believes the ultimate strength of the cryptocurrency industry comes from blockchain technology that can assert itself as a positive influence on the global economy. He said;

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“There has been skepticism about me from people who, quite rightly, view me as being from a pragmatic rather than ideological perspective. I believe in blockchain because I think it is useful and can improve the world in very specific practical ways.

My belief is that the industry depends on blockchains and can ultimately have a truly positive impact on the world. I’d like to think I’m doing a good job of representing other people who believe in the industry, even if they originally approached it from a different angle, but there’s always a little bit of unease.”

Bankman-Fried’s FTX has become one of the leading crypto exchanges in the world, behind only Binance.

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