A chief of a rapidly expanding platform for crypto offerings believes bitcoin will hit $100,000 by the beginning of next year.

Graham Jenkin, CEO of CoinList, is bullish about the cryptocurrency. It reached a record $66,000 Oct. 20, following the launch by the highly-anticipated U.S. Bitcoin futures ETF. At 6:45 AM in London, the digital currency lost some of its gains and traded at $59,052 per piece.

Jenkin, however, was optimistic that bitcoin would rise to greater heights.

“Most people at CoinList will wager that we’ll be at $100,000 by the end. It’s getting tight, so I don’t know if we’ll make it there. But that’s what CoinList predicted toward the beginning of the year.

CoinList recently announced $100 million in series-A funding. This has allowed it to reach a valuation of $1.5billion.

Many financial professionals and companies believe that the currency will reach and surpass the $100,000 mark. They consider inflation and the launch of an ETF as ideal conditions for bitcoin’s growth, calling it a hedge against inflation.

Paul Tudor Jones, a billionaire investor, told CNBC earlier this Month that he prefers cryptocurrency to gold as an inflation hedge.

“There is a plan for crypto, and it clearly leads the race against gold at this time.” Jones said. Jones said that he thought it would be an excellent inflation hedge. It would be my preference over gold at the moment.

Fidelity Investments sees the currency reaching $100,000, but with a longer timeline.

Jurrien Timmer is Fidelity’s global macro director. He explained to CNBC that the prediction was based on a supply-demand model he studies. He said that $100,000 is the next and final time these two models will intersect in a few years.

There are still many bitcoin skeptics.

JP Morgan Chase CEO Jamie Dimon called bitcoin “worthless” after previous statements that the currency had no intrinsic value.

He believes bitcoin will be around for the long-term, but he also said to Axios that he still believes it will become illegal .

He said that he believed that regulators would regulate it.

United Wholesale Mortgage, America’s second-largest mortgage lender, has stopped accepting bitcoin payments. It cited ‘the current combination incumbent costs and regulatory uncertainty in crypto space’.

Mark Yusko, bitcoin bull, is warning about a pullback. He calls it overbought and expects investors to profit from bitcoin’s current high price.

Yusko stated that a pause that recharges, given the current overbought state of the economy, wouldn’t surprise him. There is a risk that the “buy the rumor, sell news” strategy could be used. Yusko still sees any potential profit-taking only as temporary, and sees Bitcoin hitting $250,000 within five years.

It is a good thing for CoinList to be bullish about bitcoin. However, the CEO of CoinList said that the platform is not affected by the volatility of cryptocurrency.

Jenkin stated that there is no impact on bitcoin prices with respect to our platform. However, it tends to be more separated between what’s going on with bitcoin price and the eagerness of our community to access tokens and offerings early in the platform’s development.

“Certainly, if bitcoin were to go to zero that would pose a serious challenge to our platform, but that’s not something we expect to happen anytime soon.”

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