Crypto.com CEO on Q4 crypto forecast, bitcoin ETF outlook



Kris Marszalek, co-founder and CEO of Crypto.com, joins ‘Squawk Box’ to discuss how investors should navigate fluctuating crypto prices. For access to live and exclusive video from CNBC subscribe to CNBC PRO:

The chief of a new and rapidly growing platform for crypto offerings sees bitcoin hitting $100,000 by the start of next year.

CoinList CEO Graham Jenkin is bullish on the cryptocurrency, which hit a new record high of $66,000 on Oct. 20 following the launch of a hotly-anticipated U.S. bitcoin futures ETF. The digital currency has since pared some of its gains, trading at $59,052 per coin at 6:45 a.m. in London Thursday.


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But Jenkin was optimistic about bitcoin climbing to even greater heights.

“Most of the folks at CoinList will bet that we’re at $100,000 by the end of the year. It’s getting pretty tight so I’m not sure that we’re going to make it there, but that’s what we’re predicting toward the start of the year.”

Illustrating the growing demand for crypto holdings, CoinList just announced $100 million in series A funding, which has given it a valuation of $1.5 billion.

A number of financial experts and companies see the currency reaching and even surpassing that $100,000 mark. They point to inflation and the ETF launch as creating a perfect environment for bitcoin to thrive, describing it as a hedge for inflation.

Billionaire investor Paul Tudor Jones told CNBC earlier this month that he prefers the cryptocurrency as an inflation hedge over gold.

“There’s a plan in place for crypto and clearly it’s winning the race against gold at the moment … I would think that would also be a very good inflation hedge,” Jones told CNBC’s “Squawk Box.” “It would be my preferred one over gold at the moment.”

Fidelity Investments, meanwhile, sees the currency reaching $100,000 but over a much longer timeline.

Jurrien Timmer, Fidelity’s director of global macro, told CNBC this month that the prediction is based on a supply and demand model he studies. “The next and last time those two models intersect is at $100,000 in a couple years,” he said.

Still, there remain plenty of bitcoin naysayers.

JP Morgan Chase CEO Jamie Dimon recently called bitcoin “worthless,” following previous statements that he believed the currency had “no intrinsic value.”

And while he sees bitcoin sticking around for the long term, he told Axios in early October: “I’ve always believed it’ll be made illegal someplace, like China made it illegal, so I think it’s a little bit of fool’s gold.”

He added that he believes “regulators are going to regulate the hell out of it.”

United Wholesale Mortgage, the second-largest mortgage lender in the U.S., this month ditched its plan to accept payments in bitcoin, citing “the current combination of incremental costs and regulatory uncertainty in the crypto space.”

And bitcoin bull Mark Yusko is warning of a pullback and calling it overbought, expecting investors to take profit at bitcoin’s current high rate.

“A pause that refreshes given how overbought we are right now wouldn’t surprise me,” Yusko said. “There is some risk of the buy the rumor, sell the news.” Still, Yusko sees any potential profit-taking as temporary and sees bitcoin hitting $250,000 in five years.

Of course, it works very much in CoinList’s favor to be bullish on bitcoin. But the often dramatic volatility of the cryptocurrency doesn’t necessarily hurt the platform, its CEO said.

“As far as any impact of bitcoin price with respect to our platform, there’s definitely some impact, but it really tends to be kind of separated between what’s happening with respect to the bitcoin price and eagerness from our community to get access to early-stage tokens and offerings on the platform, so it impacts us less,” Jenkin said.

“Certainly if bitcoin went to zero that would be a major challenge for our platform, but we’re not expecting that to happen anytime soon.”

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31 thoughts on “Crypto.com CEO on Q4 crypto forecast, bitcoin ETF outlook

  • January 26, 2022 at 6:29 am
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    Completely disagree!!! So much so I’m paying 700 Million to name a stadium you dope 😎

    Reply
  • January 26, 2022 at 6:29 am
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    If only you know the future says, you, I'm know that indeed crypto currency is the future, investing in it now will be the wisest thing to do.

    Reply
  • January 26, 2022 at 6:29 am
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    IF GRT is the Google of crypto & Google began trading around 23 Billion Market Cap ended the year around 100 Billion, do you think we end the bull run around 23B or do we go parabolic like Google did around 100 BILLION? I'm not your nor a financial advisor so please do your OWN DUE DILIGENCE envestigar research before ANYTHING. CAPISH?
    May the Force be with GRT

    Reply
  • January 26, 2022 at 6:29 am
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    This man is a crypto purest.

    Reply
  • January 26, 2022 at 6:29 am
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    Wow I enjoyed this video tho, Forex trading has been really difficult for me to understand but my life has been better after Mrs Ryan Jeffrey came into my life, she helped me grow my profit and thought me how to trade on my own.

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  • January 26, 2022 at 6:29 am
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    PayPal are doing it with fixing fees rip off

    Reply
  • January 26, 2022 at 6:29 am
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    You can learn to trade reach out to him here👆👆👆👆

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  • January 26, 2022 at 6:29 am
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  • January 26, 2022 at 6:29 am
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    Hell breaks the loss after just a few days of the plunge in the price level of the major cryptocurrencies. Many of us keep forgetting that crypto is obviously exposed to a volatile market environment, although I am 100 % sure that crypto would rise in the long run ( new investors keep turning to crypto as an investment location ) although a seasoned trader would personally agree a trader earns a lot regardless of the price of cryptocurrencies and that a price drop is equally an opportunity to acquire stocks for profitable trading , with Daniel Wright I would say trading went smoothly for me , I started at 1.5 BTC and raised over 6.5 BTC in just three weeks using the trading strategy given to me by easyworldweb investment platform on telegram.

    Reply
  • January 26, 2022 at 6:29 am
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    Hell breaks the loss after just a few days of the plunge in the price level of the major cryptocurrencies. Many of us keep forgetting that crypto is obviously exposed to a volatile market environment, although I am 100 % sure that crypto would rise in the long run ( new investors keep turning to crypto as an investment location ) although a seasoned trader would personally agree a trader earns a lot regardless of the price of cryptocurrencies and that a price drop is equally an opportunity to acquire stocks for profitable trading , with Daniel Wright I would say trading went smoothly for me , I started at 1.5 BTC and raised over 6.5 BTC in just three weeks using the trading strategy given to me by easyworldweb investment platform on telegram.

    Reply
  • January 26, 2022 at 6:29 am
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    👆👆 I've been earning massively from this dude lately… He's a Bitcoin mining Expert 💯!!…

    Reply
  • January 26, 2022 at 6:29 am
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    👆👆 I've been earning massively from this dude lately… He's a Bitcoin mining Expert 💯!!…

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  • January 26, 2022 at 6:29 am
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    Spot on, the crypto market has been unstable. People ask themselves if this is the right time to invest? before jumping into conclusion i think you should take a look at things first. BTC price fall means analysts remain divided over whether it is entering a bear market or is just suffering a brief correction on the road to more record highs. Investors who bought early are still in profit despite the recent price crash and they also earn by trading. I'm still an investor and still I'm winning by applying the same method in every trade, you can also become a winner today. We should follow the way of earning more regardless of the current market (bulls or bears), which is trading. Buy the Dip and Trade…I have made over 15 btc profits not just by buying the dip but implementing trades with signals supplied by Mr. Seth Leonard. a veteran trader from New York.

    Reply
  • January 26, 2022 at 6:29 am
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    <]I like your presentation!! Clear n straight forward!!the price pump is amazing for very early investors or those who just got in for the first time otherwise it's just bouncing back to normal price for the rest of us which is good, btc truly is a class of its own, it has no competitors. All the other alts are competing with each other, they are more centralized, and the majority of them are not completed projects. I can't believe it when i hear people selling their btc for alts lol, that why I trade with the best analysts since the last bear which i attain maximum success.I am able to make $120,000 in btc this August from implementing trades with tips and info from Daniel Wright a well renowned trader. you can reach out to him to stack up more in this period on TE LE GRAM[Danielwrightfx] on implementing trade

    Reply
  • January 26, 2022 at 6:29 am
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    btc is worthless compared to cro

    Reply
  • January 26, 2022 at 6:29 am
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    <Thanks for this educative video, it was really so helpful. I had been living under financial siege until last year when i came in contact with a professional trader Mr Bobby Lucas. Life have been better afterwards.>>

    Reply
  • January 26, 2022 at 6:29 am
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    The price of bitcoin was gradually heading south📉 following the all-time high reached last week. It failed to continue above $67,000 and lost $7,000 in just a few days.

    The asset managed to recover some ground and neared $64,000 earlier this week, but it was stopped once more. This time, the bears took complete control and pushed BTC south hard.

    In a matter of hours, the cryptocurrency lost more than $5,000 of value. As such, it dipped to $58,000, which became the lowest price point in two weeks.

    BTC initially struggled to recover but has spiked by $1,500 in the past few hours and is above $61,000📈 once again. Consequently, the asset’s market capitalization has reclaimed $1.1 trillion, but the dominance over the altcoins is down to 44.5% after touching 47% days ago.

    Go ahead and follow or connect for additional insights and cautions

    Reply
  • January 26, 2022 at 6:29 am
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    I can't stand these talking heads on MSM. Been in Bitcoin for 7 years, and these fools have been wrong the entire time.

    Reply
  • January 26, 2022 at 6:29 am
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    Robinhood isn’t even a real exchange. Why are you even talking about them like they’re a player in crypto?

    Reply
  • January 26, 2022 at 6:29 am
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    OGN deserves your attention.

    Reply
  • January 26, 2022 at 6:29 am
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    Since I have been dealing with them why never disappoint me I am so happy dealing with them

    Reply
  • January 26, 2022 at 6:29 am
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    Since I have been dealing with them why never disappoint me I am so happy dealing with them

    Reply
  • January 26, 2022 at 6:29 am
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    Kathy woods didn't say 500k by end of year that's a misquote. I'm a bitcoin bull but the 500k number is longer term iirc

    Reply
  • January 26, 2022 at 6:29 am
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    CNBC talking smack about crypto as usual. They get paid to pump stocks !

    Reply
  • January 26, 2022 at 6:29 am
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    I don't know about you but I'm Bullish on ALL my Coins🚀🚀🚀🍻💯 HODL

    Reply
  • January 26, 2022 at 6:29 am
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    Tigerkingcoin to the moon!

    Reply
  • January 26, 2022 at 6:29 am
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    You can tell Sorkin is a no coiner. He hates talking about BTC

    Reply
  • January 26, 2022 at 6:29 am
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    Cryptocurreny was born on the Dark Web for illegal transactions. Shine a light on them and like Cockroaches they scurry to hide.

    Reply
  • January 26, 2022 at 6:29 am
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    Btc = 100k is coming by xmas or more . This time there no huge dump

    Reply
  • January 26, 2022 at 6:29 am
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    Cro coin to the moon forget btc

    Reply

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