Celsius, a cryptocurrency earning and borrowing platform, has announced that the amount of assets under its management has crossed the $20 billion mark. According to a press release, the company had over $20,3 billion in cryptocurrencies as of August 13 and the growth from $1 billion to $20 billion occurred in less than a year.
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"At the start, we set a goal to bring the next 100 million people into crypto. Today, as we sit at over 950,000 users worldwide and over $20 billion in assets, we are well on our way," said Alex Mashinsky, CEO of Celsius.
Hence, Celsius became the first platform to break through the $20 billion assets barrier for any centralized (CeFi) and decentralized finance (DeFi) platforms. The announcement comes as Mashinsky earlier reiterated his forecast by saying that bitcoin (EXANTE: Bitcoin) still has a lot of potential to grow higher by the end of this year. According to him, the cryptocurrency is likely to hit between $140,000 and $160,000 by the end of 2021.
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