Kraken CEO on Bitcoin’s Price Potential to Reach $ 1,000 Billion | Zoom Fintech

/ date / 2020/06 / kraken-ceo-on-the-potential-pour-bitcoin-s-price-to-reach-1-billion /

Most recently, crypto-focused funding agency Pantera Capital held a convention name (about the third half of Bitcoin), in which Jesse Powell, co-founder and CEO of crypto exchange Kraken, held a talked about Bitcoin.

Regarding the long-term potential of the Bitcoin price, Powell mentioned:

“Most people have heard of Bitcoin, but they don’t own any Bitcoin. They don’t know what the way forward for Bitcoin is. I think if everyone knew about Bitcoin and the potential of Bitcoin and how nice it was, the price can be like a trillion {dollars} a Bitcoin. We would all just be converted to Bitcoin and never use the rest… ”

“I think there are lots where the price is not factored in, even if it’s predictable, like what the long term is.”

“Ten years later, the US greenback will continue to be printed like crazy. It’s going to be completely bad. Nobody needs it. Everyone is going to need Bitcoin. However, this is not taken into account due to the perceived dangers or perceived uncertainty about the future, the regulations, how the federal government responds in many conditions as Bitcoin continues to grow. , or how useful it really becomes.

Looking ahead to the medium term, Powell expects the price of Bitcoin to hit $ 100,000 over the next two years:

“I imagine we are in an unprecedented period because of the global political and financial agendas. I imagine this is going to result in a pretty big shift towards digital forex. I think the next couple of years we will definitely see 1 BTC go over $ 100,000 …

“Just for the record, over the past two months we’ve seen a huge increase in new accounts, establishments. I have a feeling, again, I mentioned this earlier, that one thing that keeps other establishments from entering is simply the uncertainty over the state of the regulations.

“I feel like a lot of them are on hold, a lot maybe trying to have their mandates changed to allow them to spend money on these asset classes. However, I guess it does. I think additional LPs are going to require their GPs to spend money on crypto. I feel like it’s going to come back from the bottom up. Returns are just so expensive to ignore. It seems irresponsible not to make crypto a part of your wallet. “

Powell believes the only factor that will hold Bitcoin back in the short term is that the current excessive phase of uncertainty on earth is pushing many people towards what they know best, which is cash:

“In times like this, with a lot of uncertainty, I think people need what they know, which is money. I bought to pay my rent in cash. I bought to buy my meals and my toilet paper in cash.

“They’re not looking to keep an unstable asset, but it might be really good long-term funding. People are thinking very short term now. I think this is a factor that works towards Bitcoin.

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