The head of a Swiss bank has predicted bitcoin will hit new record highs in 2022, based on his firm’s analysis.

Seba CEO Guido Buehler said the cryptocurrency could reach as high as $75,000 over the next 12 months as more institutional investors embrace it.

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Speaking to CNBC at the Crypto Finance Conference in St. Moritz in Switzerland on Wednesday, Mr Buehler forecasted a potential new all-time high above the $69,000 levels BTC experienced in November.

“Our internal valuation models indicate a price right now between $50,000 and $75,000. I’m quite confident we’re going to see that level. The question is always timing,” he said.

“Institutional money will probably drive the price up. We are working as a fully regulated bank. We have asset pools that are looking for the right time to invest.”