Despite the current price, bitcoin (BTC) remains investors’ favorite crypto. If some people think that it tends towards the end of its race, Jesse Powell, CEO of Kraken, sees things differently and does not hide it!
Kraken: Jesse Powell bullish on bitcoin (BTC)
If the volatility of bitcoin (BTC) scares off some traders, Jesse Powell is not one of them. The latter has been supporting the main crypto for years and remains confident that it will soon reach new heights. Indeed, he argued in 2021 that a Lamborghini would likely sell in bitcoin before the end of that year. And for 2022, he had higher hopes since according to him, the BTC would reach the price of a Bugatti.
This says a lot about his view of crypto when you know how much these cars are selling for. Despite the rather harsh crypto winter, Powell stands by his statement and does not budge. According to him, current conditions do not influence him, and said on Bloomberg Exclusive that there remains optimistic on bitcoin.
Recall that bitcoin is currently trading at $23,475, and is up 0.58%. Meanwhile, models of luxury car brand Bugatti sell for between $1.9 and $3.3 million.
Kraken is following the same momentum as many investors
The bearish trend in cryptos negatively affected Kraken’s performance. Indeed, even if unlike other trading platforms the San Francisco-based company did not participate in the layoff trend, it still made a bad impression during this period. Indeed, The New York Times reported that Jesse Powell had created a hostile environment by starting a culture war within the exchange.
However, this had no impact on its adoption of bitcoin. And he is not the only one since several investors are hoping for the take-off of BTC. Although he doesn’t think the flagship crypto will hit the price of a Bugatti, Mike McGlone said bitcoin will skyrocket once it bottoms out.
The conviction of Jesse Powell, CEO of Kraken on the future of bitcoin (BTC) is not new. Indeed, many investors agree with him on the BTC explosion, but not on the price. As he thinks of a course that would amount to millions of dollars, Michael Novogratzthe CEO of Galaxy Digital believes it will trade in the $500,000s by 2027.
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