Why Bitcoin Will Reach $100,000 In Less Than 80 Days

Bitcoin BTC/USD futures are rallying ahead of ETF application rulings that are expected to come as soon as next week.

Voyager Digital Ltd VYGVF CEO Steve Ehrlich is excited about the potential of a Bitcoin Futures ETF because a favorable ruling would start to show acceptance of cryptocurrencies from the SEC, he said Thursday on CNBC's "Squawk On The Street."

A Bitcoin futures ETF would likely lead to the acceptance of a Bitcoin ETF which would ultimately "drive more adoption into the crypto space," Ehrlich said.

"We are really excited about and support a regulatory environment for cryptocurrencies. That's the natural progression of this asset class."

Ehrlich said the recent rally in crypto is the result of increasing adoption and as adoption progresses, he expects crypto to continue to move higher.

"I believe Bitcoin will be at $100,000 by the end of the year," Ehrlich predicted.

BTC Price Action: At the time of publication, Bitcoin was up 2.14% at $57,347 over a 24-hour period.

Photo: Eivind Pedersen from Pixabay.