Kraken CEO Says He Will Never Bet Against Bitcoin

0
95
Kraken

Jesse Powell, CEO of the leading American cryptocurrency exchange Kraken, told Bloomberg recently that he would never bet against Bitcoin (BTC), the world’s first and largest digital currency, after his previous prediction last year failed.

During the 2021 boom market, when BTC peaked at $69 000 per coin, Powell predicted that one bitcoin could buy a luxurious Lamborghini vehicle while the coin was trading at around $48,000.

“Probably by the end of the year [2021], it’ll be one Bitcoin per Lambo, and probably by the end of next year [2022], it’ll be one Bitcoin per Bugatti,” he said.

Read also: Nigeria Tops the List as Most Cryptocurrency-Obsessed Nation Despite Market Crash

The Kraken CEO stated that he is still very bullish on Bitcoin, noting that he purchased the cryptocurrency when it hit $18,000 during the global economic meltdown.

“I bought Bitcoin again at 18,000, and I’m happy to ride it back up. I’m still bullish on the long run, and the fundamentals keep improving. I’d never bet against Bitcoin,” he said.

Related article: As BTC drops 5% from its peak, here are the price levels to keep an eye on

Powell also stated that he hopes to purchase a Bugatti with one BTC by the end of 2022, noting that blockchain fundamentals have improved since the blockchain’s inception.

Meanwhile, bitcoin is trading at around $23,000 at press time, so Powell will have to wait until next year to buy his Bugatti.