Kraken CEO believes BTC will go to infinity in terms of measuring it against the US dollar, as per the latest interview with Bloomberg so let’s read more in our latest Bitcoin news.
Powell justified his comments by painting a new future where he compared BTC to fiat currencies to determine the value of an item but also made a new prediction based solely on BTC:
“I think pretty soon people are gonna start measuring the price of things in term of Bitcoin. I think the true believers will tell you that it’s going all the way to the moon, to Mars, and eventually will be the world’s currency. So we won’t be measuring the price of Bitcoin in terms of dollars, but what else you’re going to be buying with it – probably planets or other solar systems.”
Looking quite optimistic by these standards, Powell made a prediction of a post-fiat world where the items will be valued in BTC rather than the government-based currencies. When pressured to give an answer to the future price of BTC, Powell suggested that a price target of $1 million in the next 1 0 years is quite the reasonable prediction and even suggested that Bitcoin’s increase in price is tied to the inflation of the US dollar with people seeing BTC as a safe haven asset in the face of unreliable returns on the savings accounts.
The Kraken CEO believes BTC will shoot higher especially now after the upcoming round of investment and commented on Kraken’s valuation of $10 billion dollars with the potential of the exchange going public:
“We’re certainly on track to go public, we’ve had a lot of inbound interest in financing, in people buying shares in the company. Personally, I think $10 billion dollars is a low valuation – I wouldn’t be interested in selling shares at that price.”
Ending the interview, Powell commented on the current attitude of crypto enthusiasts:
“I’m a long-term holder. There’s no reason to sell Bitcoin, and I think a lot of other people are just waiting to buy the dip, these ‘hodlers of last resort’.There are a lot of weak hands out there, they come in, they day trade, they don’t really understand the fundamentals of Bitcoin, but I think there are enough people out there see that Bitcoin is the future and are holding long term.”
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