Zac Prince, the founder and CEO of BlockFi Lending LLC, a “secured non-bank lender” focused on providing cryptocurrency-backed USD loans to digital asset investors, has argued that “we are [transitioning] from a painful [crypto] bear market into an undecided market.” Prince, a former SVP at Cognical, a New York-based firm specializing in the consumer lending business, told CryptoGlobe that “overall [his firm] remains incredibly bullish on the sector and believes” that bitcoin (BTC) prices will be “between 25-200% higher at the end of 2019 than they were at the beginning of the year.” Commenting on the growth and development of crypto-backed lending and how it compares to similar services in the traditional financial markets, Prince remarked: “Debt and credit are critical pieces of financial infrastructure in traditional markets and we believe that the same thing will be true for crypto.”
