Bitcoin has fought long and hard to shun off its association with the dark web. Crypto platforms like Kraken, Binance, and several others along with the members of the crypto community have been aiding this growth throughout the years. An array of members flocked into the crypto-verse during the latest bull run and got the exchanges in the industry bustling.
Bitcoin hitting an all-time high of $58K got the hopes up high of the entire crypto-verse. But its latest downfall back to $46K got everyone in a frenzy. Despite, this setback, the support for the king coin kept pouring in. Kraken’s CEO went on to suggest that reaching the moon wasn’t very far for the king coin.
Kraken Bullish On Bitcoin
Kraken’s CEO, Jesse Powell decided to take things up a notch with his latest prediction for BTC. Appearing in a recent interview with Bloomberg, Powell pointed out that Bitcoin had the ability to hit $1 million in the coming decade. He added,
“We can only speculate, but when you measure it in terms of dollars, you have to think it’s going to infinity. 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.”
Powell also revealed that Bitcoin at $10 billion would still be a low valuation and he would HODL instead of selling the asset at that price.
Several countries have already started taking interest in the crypto-verse. This sprouting interest could eventually turn into fiat currencies being replaced by the king coin, the CEO suggested. Taking the dollar as an example, Powell pointed out how the dollar has gone weak after only 50 years of existence. This, however, could work for BTC as people would soon begin “measuring the price of things in terms of Bitcoin.”
Furthermore, Powell acknowledged the volatile nature of the king coin and suggested that the coin could move up or down by 50% on any given day. While this has been a drawback of the industry, Bitcoin continues to thrive.
He concluded by stating,
“If you are buying into Bitcoin out of speculation, you should be committed to holding for five years. You have to have strong convictions to hold.”