Bitcoin (BTC) will be worth “infinitely” and humanity will soon stop praising it in US dollars, says the CEO of Cryptocurrency Exchange Kraken.
In statements for Bloomberg 4th of March, Jesse Powell Bitcoin was characteristically bullish as BTC / USD topped $ 50,000.
Powell: $ 1 million per bitcoin in ten years “reasonable”
“Of course, you know, we can only speculate, but if we measure it in dollars, you have to think it goes on and on.” told Bloomberg TV about future price developments.
“This local currency is only fifty years old, is already showing extreme signs of weakness and I think people will start praising Bitcoin very soon.”
Powell commented on how the US dollar weakened along with a macro market sell-off on Wednesday, an event that had virtually no impact on Bitcoin. At the same time, American national debt quietly exceeded $ 28 trillion for the first time in history.
Despite the rejection of the $ 50,000 support, the Bitcoin bulls remained more than bullish.
“People who believe in Bitcoin see it … it will replace all of the world’s currencies, which basically means that regardless of the market capitalization of the dollar, the euro, it all adds up to what Bitcoin could be worth.” Powell continued.
“I think in the near future people will see it outperform gold as a store of value, and I think $ 1 million as a price target over the next decade is perfectly reasonable.”
As Cointelegraph noted Bitcoin closed 26% above its stock-to-flow target in February. and the creator PlanB still trusts that $ 100,000 will arrive sometime this year.
No time for gold
Meanwhile, The argument to outperform gold has found support, especially on social media. often at the expense of the gold bugs, who have less and less ammunition to defend their anti-bitcoin stance.
As Cointelegraph reported, it was the billionaire and former Bitcoin skeptic. Mark Cuban, who this week criticized SchiffGold.com CEO Peter Schiff for his love of precious metals. Gold “is dead,” said the Cuban on the ship.
“Bitcoin has crushed gold since its inception,” added Kraken’s growth leader, Dan hero, in response to Schiff’s claims that a bet against gold was lost.