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Insights from Token2049: How crypto wealth is made

Attendees at Token 2049 in Dubai shared their personal stories on how they became rich.

Crypto conferences are hotspots for people who accumulated vast wealth by taking advantage of the rapid growth of digital assets.  At Token2049 in Dubai, United Arab Emirates, Cointelegraph's Bradley Peak caught up with attendees to uncover the secrets behind their wealth.

The stories he heard were as diverse as the people themselves. Some were lucky or smart enough to invest in Bitcoin (BTC) early on, riding its surge and cashing out at the right moment. Others proudly declared themselves as "diamond hands," holding onto their Bitcoin through thick and thin, reaping the benefits as its value soared.

In the crowd were savvy traders who navigated the complexities of financial instruments like options and futures contracts, turning their expertise into profits. And then there were the fintech entrepreneurs who had built successful ventures within the crypto space, now enjoying the rewards of their hard work.

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German watchdog orders Worldcoin to delete non-compliant data

Institutional investment will boost Bitcoin to $75,000, says SEBA CEO

“We believe the price is going up. Our internal valuation models put the price per BTC right now of between 50,000 to 75,000,” says Guido Buehler, CEO of Seba Bank.

The CEO of Swiss-based financial institution SEBA Bank shared his predictions for Bitcoin in 2022. A boon for BTC bulls, Guido Buehler was optimistic about institutional adoption and a price increase to $75,000 per coin.

He explained in an interview that, at SEBA, asset pools are looking for the right time to invest. However, they need the right counterparties and the necessary regulation in order to deploy capital.

When pressed on whether Bitcoin (BTC) would hit new highs this year, Buehler thinks it’s possible, “the question is always time.” He noted that with BTC dominance bottoming out at 40%, it’s a pivotal moment for investors looking for a directional play.

The interview took place at the Crypto Finance Conference in St. Moritz, Switzerland, where "sophisticated" players across the crypto space came together to discuss potential business deals. 

The reasons behind price increases clash with the CEO of Ledger’s musings. At the same conference, Pascal Gauthier agrees on BTC hitting new highs but it’ll be retail leading the charge.

Related: Fidelity exec says Bitcoin is ‘technically oversold,’ making $40K a ‘pivotal support’

SEBA bank is building a reputation as a crypto-friendly banking institution. The bank recently completed a Series C funding round of 110 million Swiss francs ($119 million) in which FTX and Alameda Research were investors. In October last year, the bank said that customers would soon be able to earn yields on their crypto holdings.

A crypto enthusiast himself, in Buehler’s words, the technology behind Bitcoin will “redefine finance.”

German watchdog orders Worldcoin to delete non-compliant data