Binance CEO Richard Teng Sees Bitcoin Crossing $80K by Year End

Amitoj Singh is a CoinDesk reporter.

Teng said,"with supply reducing and demand continuing to come through,” he expects the world’s largest cryptocurrency to cross his previous estimate of $80,000.

The crypto market has been steadily reaching new highs this year on the back of the spot bitcoin ETF approval in the U.S., with bitcoin crossing $73,000 for the first time last week. The market rally, which is being driven by institutional adoption, has turned many financial firms bullish on crypto. On Monday,Family offices and endowment funds will also increase their investment in bitcoin ETFs in the near term, the report said, citing Teng. Teng was speaking at an event in Bangkok on Sunday and also said the rally won’t be a “straight line,” and the ups and downs will be good for the market, the report said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CoinDesk /  🏆 291. in US

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Binance Labs Quietly Transitions to Independent Entity From BinanceCrypto Blog
Read more »

'BTC, BNB, ATH, to Moon': Binance CEO Delivers Unexpected InsightBinance CEO Richard Teng unveils hidden symbolism behind 'BTC, BNB, ATH, to Moon,' sparking intrigue and speculation
Read more »

Former Binance CEO CZ Ordered to Surrender Canadian Passport to USCrypto Blog
Read more »

Chestnut Hill Hospital’s new CEO is Richard NewellNewell will come to Chestnut Hill Hospital from Tower Health, where he was CEO of Phoenixville and Pottstown Hospitals.
Read more »

Binance to Discontinue Its Nigerian Naira Services After Government ScrutinyBinance CEO Richard Teng was summoned by a committee of Nigeria's House of Representatives to appear for an investigation on alleged money laundering and financing of terrorism, according to a report from Punch.
Read more »

Binance’s Top Crypto Crime Investigator Is Being Detained in NigeriaTigran Gambaryan, a former crypto-focused US federal agent, and a second Binance executive, Nadeem Anjarwalla, have been held in Abuja without passports for two weeks.
Read more »