Crypto Hedge Fund CEO: If BTC Stays Above $5K, '50K Relatively Quickly Is Possible'

Siamak Masnavi

On Wednesday (March 18), Su Zhu, Co-Founder, CIO, and CEO of Singapore-based crypto-focused hedge fund Three Arrows Capital, commented on the current price of Bitcoin.

Zhu's comments came at a time when Bitcoin was trading around $5,182:

Zhu is presumably referring to the significant increase in debt that is taking place all over the world in an effort to combat the economic impact of COVID-19. As for the United States, he is probably referring to the Federal Reserve's recent actions, such as setting the federal funds rate to near zero and offering a $1.5 trillion loan to banks to ease T-bill liquidity issues.

Yan Pritzker, Co-Founder and CTO of crypto startup Swan Bitcoin seems to agree on the money printing part of Zhu's first tweet:

 Earlier today, Charlie Lee, the creator of Litecoin, also talked about the same issue: