The CEO of cryptocurrency lender Celsius Network, Alex Mashinsky, has reaffirmed he believes the price of bitcoin will hit $140,000 to $160,000 this year after it traded above significant levels over the last few weeks.

In an interview with Yahoo Finance, Mashinsky pointed out Bitcoin is “very good” as a store of value and should be used as such, and not to pay for everyday transactions. He added that after BTC managed to remain above key support levels, it«s gearing up to move higher.

He reaffirmed his price prediction, where he said the cryptocurrency could surge to $140,000 or even $160,000 this year. He has in the past conceded that while he predicts BTC’s price will hit those figures, the year will close “a little bit lower” than that price level.

Earlier, the CEO had said BTC’s adoption as a payment method in El Salvador is partly behind his price prediction. He sees other countries follow suit and declare the cryptocurrency legal tender, especially those in South America.

The CEO also addressed the influence Tesla CEO Elon Musk has in the cryptocurrency space in the past, as he noted that often massive price drops for BTC and other top cryptocurrencies came after Musk tweeted about it. To Mashinsky, he is a “tourist in crypto” as he is “here to collect more followers” and not to help people learn more about cryptocurrencies.

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Featured image via Pixabay