“In dollar terms, Bitcoin is going to infinity,” says Kraken CEO

Charlie Taylor

On Thursday, Kraken CEO Jesse Powell said he believed Bitcoin could easily reach a valuation of one million dollars per currency. “When you measure in dollar terms, you have to think that you’re going to infinity,” insists Powell. money in the Federal Reserve. ”

Bitcoin to infinity and beyond

Over the past few weeks, as bitcoin prices have seen a significant rise above $ 58,000, several cryptocurrency proponents and analysts think the BTC could reach six digits in the dollar's value. There were many guesses suggesting that bitcoin would reach $ 100,000 this year and even people who say it could reach $ 200 to $ 350,000 per unit. After bitcoin reached a historic record (ATH) on February 19, 2022, on Thursday the CEO of the Kraken cryptocurrency exchange told Bloomberg reporter Lynn Thomasson that he believes the asset could reach $ 1 million in the next decade.

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Few people suggest seven-digit prices for BTC, but Jesse Powell, CEO of Kraken said; "We can only speculate, but when you measure in terms of dollars, you have to think that you are going to infinity." The founder of the San Francisco Stock Exchange said that there are bitcoiners who believe in Bitcoin as a potential substitute for all global currencies. "True believers will say that it goes to the moon, to Mars and eventually will be the currency of the world," Powell detailed in his recent interview. Powell also revealed that the company Kraken is considering an initial public offering (IPO) in the next year, following in the footsteps of the popular exchange that is also located in San Francisco, Coinbase.

Kraken Research: ‘Long-term trends show that we’re still a long way from the top of the market cycle’

Kraken also published a February 2022 market review on Friday, which examines a number of important conclusions. Some of them being, BTC's logarithmic regression regression data, bitcoin price returns and volatility, alongside other digital assets in cryptoeconomics.

"Historical price action shows that upward bitcoin market corrections typically return between 70-90%," wrote Kraken researchers on Friday. “In examining long-term trends, our analysts conclude that we are still a long way from the top of the market cycle.”

Powell is also optimistic about the steady increase in BTC and the value of the leading crypto against the US dollar. "(The dollar) is only 50 years old and is already showing extreme signs of weakness, and I think people are going to start measuring the price of things in terms of Bitcoin," concluded Powell de Kraken. What do you think of the CEO's forecast from Kraken that BTC could reach a million dollars per unit? Let us know what you think about this subject in the comments section below.

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