Marc Boiron, CEO of Polygon Labs, Expects BTC to Reach $250,000

In an interview with Rob Nelson on Roundtable, Boiron explained that Bitcoin scarcity and growing demand will drive the surge of the token’s price. He stated:

> “You’ve got this one asset that has this fixed supply, and all you need to figure out is whether demand is going to increase for this asset or not. It’s literally that simple.”
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> Marc Boiron

High Expectations for Bitcoin

Boiron has high expectations for Bitcoin, claiming the token poses less of a threat to investors in the current market state. He argued that Bitcoin is the easiest financial asset to figure out, yet many don’t understand this concept. He believes the asset could trade as high as $250,000 this year, as demand grows and supply remains steady.

He pointed to the token’s scarcity as a reason for its potential growth. Boiron also stated that given the current market dynamics, Bitcoin has less downside risk despite its price volatility history. He mentioned that with upcoming regulations, Bitcoin will pose less risk to investors than it traditionally does.

Market Update: Bitcoin Drops After Bybit Hack

Bitcoin dropped to less than $97,000 on Friday following a significant hack of the crypto exchange Bybit, where hackers drained almost $1.5 billion. Security analysts have attributed this breach to North Korea’s Lazarus group, citing concerns over their advanced techniques following the largest attack in crypto history.

Bitcoin fell to under $97,000, down from nearly $100,000 after the attack. Currently, the asset trades at $96,581, representing a 1.36% rise in the last 24 hours.

Ether also experienced a decline of nearly 4%, trading below $2,700, but has shown improvement with a 5% rise in the last 24 hours, now priced at $2,774. On Friday, Coinglass reported over $500 million in liquidations.