“Bitcoin Price Will Even Reach Seven Figures” – Bitcoin Suisse Founder

Niklas Nikolajsen, founder of Bitcoin Suisse, one of the oldest crypto companies specializing in asset storage, predicts a continued rise in the price of Bitcoin, even suggesting it could reach “seven figures.”

In an interview with the Neue Zürcher Zeitung, Nikolajsen also criticized crypto regulation and politics in Switzerland and praised the US under incoming President Trump as a pioneer.

US Election and Bitcoin Halving Fueling Current Bull Run

According to Nikolajsen, whose fortune is estimated at 200 to 300 million Swiss francs, Bitcoin (BTC) price will continue to rise.

“The highest Bitcoin price is in the future,” Nikolajsen said, adding:

“I was one of the few who bought a lot of Bitcoin under a dollar. When it hit one dollar, my friends told me to sell. I didn’t. And I’m still saying: we are in a bull market that will last until spring. Of course there will be setbacks, but the Bitcoin price will one day even reach seven figures.”

Nikolajsen explained that the US election accelerated the current bull run but pointed out that in a “halving” year, which creates scarcity in the market due to the halving of newly issued Bitcoins, a price spike towards the end of the year is typical.

Nikolajsen also referred to the increasing acceptance of institutional investors and Trump’s announcement that he would buy Bitcoin as a currency reserve if re-elected.

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Senator Lummis proposes a strategic Bitcoin reserve for the U.S. to acquire 1 million BTC to strengthen dollar and reduce the national debt.

— Cryptonews.com (@cryptonews) November 8, 2024

“If the US actually managed to buy one million Bitcoin, all players would come under pressure,” said Nikolajsen. There would be a gold rush, he predicted, not only among small investors but also among companies and governments. “The Chinese would be forced to act, as would other countries that had failed to establish their own Bitcoin reserves.”

“Switzerland Is No Longer the Right Place To Start a Crypto Company”

According to Nikolajsen, Switzerland should also hold Bitcoin as a currency reserve.

“It is not in Switzerland’s interest to have an institution that buys all kinds of debt instruments in the EU and loses so much money over such a long period of time,” he argued with regard to the Swiss National Bank (SNB). Instead, the SNB should hold “good assets” such as Bitcoin.

Switzerland has lost ground in the area of crypto regulation, Nikolajsen said, adding that “Switzerland is still better at regulation than many EU countries, but it is certainly not a global leader”. The vision of making Switzerland a leading location for the global crypto industry “died with the personnel changes in the Federal Council”.

The Financial Market Supervisory Authority (FINMA) has lost its nerve, according to Nikolajsen, and no longer grants crypto companies banking licenses.

“The authority doesn’t want crypto banks, but rather banks that “do crypto”. Unfortunately, Switzerland is no longer the right place to start a crypto company,” he added.

Switzerland Still Attracts Crypto Investors

Though no longer active in the industry since the end of 2021, Niklas Nikolajsen is still one of Switzerland’s most well-known crypto entrepreneurs.

In November, he became president of the Bitcoin Association Switzerland, an industry group aiming to strengthen Switzerland’s position as a leading hub for Bitcoin innovation.

However, not all Bitcoin investors share Nikolajsen’s pessimistic opinion. In September, Billionaire investor Christian Angermayer reportedly left the United Kingdom for Switzerland’s Bitcoin hub, Lugano.

With about 1,000 stores accepting Bitcoin, Lugano – a small town in an Italian-speaking region of Switzerland – is a real-world example of crypto in action. This is partly thanks to a partnership with Tether, which makes using crypto for everyday purchases easy.

Since 2022, Lugano has also hosted the Bitcoin-themed conference “Plan ₿ Forum” annually.

🔥All you need to know about swiss crypto city Lugano🏙️🇨🇭

Lugano, a city in southern Switzerland, is becoming a leader in using blockchain technology. Mostly none of the Satoshi statue that went viral across all social media.

They have teamed up with @Tether_to to launch the… pic.twitter.com/xKpqjWcIM6

— Alex Naray ⚖️ 🇨🇭 (@AlexNaray) December 3, 2024

According to a recent report by Social Capital Markets, Switzerland ranks second with a score of 74.5. It boasts 900 registered crypto companies and zero capital gains tax for long-term investors.