– “I see Ethereum hitting $6,000 and Bitcoin reaching $100,000 by the end of this year.
Urban discussed his outlook on Ethereum and Bitcoin prices along with the institutional adoption of cryptocurrencies with Michelle Makori, Lead Anchor and Editor-in-Chief of Kitco News, at the Bitcoin 2022 Conference in Miami.
Urban emphasized that the factors influencing cryptocurrency prices the most are how the Federal Reserve plans to fight inflation, and the Russian-Ukraine war.
“That is probably the soonest it could happen, or there could be something else that we haven’t discovered yet that could be the next big thing.
“We saw Bitcoin used as a hedge a little bit at the end of last year, where we saw an overlay chart of inflation and Bitcoin.
We are seeing such innovation now, and people with deep banks now who can invest in that innovation,” he said.
Regarding institutional adoption of cryptocurrencies, Urban disclosed that 15% of institutions are dabbling in crypto in a way that makes sense to them.
Urban disclosed that Galaxy Digital Trading, one of the biggest players in this space, has some exciting projects under development.
We are very active in the mining side of the equation doing it through an ESG lens, so we are being responsible stewards of our planet,” Urban added.