Polygon Labs CEO Marc Boiron Predicts Bitcoin (BTC) Will Hit $250K This Year

Marc Boiron, CEO of Polygon Labs, expects BTC to reach $250,000, believing that the token's long-term growth is inevitable despite short-term market volatility.

Marc Boiron, the CEO of Polygon Labs, has expressed optimism about Bitcoin's long-term growth, stating that the token's scarcity and increasing demand will drive its price to new highs. In an interview with Rob Nelson on Roundtable, Boiron highlighted Bitcoin's unique characteristics that make it less risky for investors in the current market conditions.

Boiron's bullish outlook on Bitcoin is based on its scarcity and the growing demand for the token. He explained that Bitcoin is the simplest financial asset to understand, yet most people don't grasp this concept. According to the CEO, this lack of understanding is what prevents people from realizing that Bitcoin could reach $250,000 this year.

Boiron's statement aligns with his previous comments, where he expressed confidence in Bitcoin's ability to reach new heights despite the bear market. He noted that the flagship cryptocurrency tends to perform well over the long term, and its scarcity will ultimately drive its price to new highs.

Highlighting Bitcoin's scarcity as a key factor in its potential growth, Boiron stated that the token's limited supply will drive its price up as demand for it grows and supply remains the same. He also pointed out that Bitcoin has less downside risk in the current market, especially considering its history of price volatility.

According to the CEO, Bitcoin poses less of a threat to investors in the current market state, despite the token's typical volatility. He anticipates that upcoming regulations will further mitigate Bitcoin's risks for investors.

Crypto prices declined on Friday after hackers drained nearly $1.5 billion from crypto exchange Bybit. According to security analysts, North Korea's Lazarus group was behind the attack, sparking concerns among analysts over the group's advanced techniques and the largest attack in crypto history.

Bitcoin fell to less than $97,000 after the attack, dropping from around $100,000 before the news. Currently, the asset is trading at only $96,581, showing a 1.36% increase in the last 24 hours.

Ether also slipped by almost 4%, trading below $2,700. However, the coin performed better on Saturday, showing a 5% rise in the last 24 hours to $2,774.

Coinglass reported over $500 million in liquidations on Friday.