Monobank Co-founder Invests in Bitcoin, Predicting $100,000 Price Target

Oleg Gorokhovsky, the co-founder of monobank, Ukraine’s leading mobile bank, has disclosed a substantial personal investment in Bitcoin.

In a recent Facebook post, Gorokhovsky said that while he is not specifically keen about financial forecasts, the news of Tesla investing $1.5 billion in Bitcoin has conclusively convinced him that crypto is here to stay.

According to the entrepreneur, Bitcoin represents a substantial part of his personal investment portfolio and he recommends others to buy the digital asset.

“Bitcoin is here to stay,” wrote Gorokhovsky. “I share the most optimistic projections regarding its price and believe that it will top $100,000 either this or the next year.”

monobank, which has no physical offices and conducts all banking operations via its mobile apps, was launched in November 2017 and quickly gained popularity among younger generations of Ukrainians–both individual and business users.

By August 2020, monobank’s user base reached 2.5 million users. According to the company, it acquires three new users every minute.

Ukraine is considered one of the most crypto friendliest countries in Eastern Europe, with its government recently signing an agreement with the Stellar Foundation, which will see the latter helping to co-develop the country’s virtual assets strategy.

Last year, Ukraine topped The Global Crypto Adoption Index from Chainalysis. This was based on the amount of on-chain Bitcoin transactions in the region as well as peer-to-peer trading volume.