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“Bitcoin would be worth a trillion dollars if people knew the power of the cryptocurrency,” said Kraken CEO

May 30, 2020

Jesse Powell, CEO of Kraken, one of the world’s largest cryptocurrency exchanges, said that if people around the world understood the value of the ongoing revolution brought about by cryptocurrencies, Bitcoin could reach a trillion dollars.

For him, the masses still don’t understand how important the lack of Bitcoin and its independence from banks and intermediaries are.

He assumes that this will change over the next decade as long as the dollar’s value declines.

“Most people have heard of Bitcoin, but none of them have Bitcoin. They don’t know what the future of Bitcoin will be. I think if everyone knew something about Bitcoin and the potential of Bitcoin and how big it is, it would be Price $ 1 trillion per Bitcoin. We would all transfer to Bitcoin and use nothing else … “he said.

“Bitcoin would be worth a trillion dollars if people knew the power of the cryptocurrency,” said Kraken CEO“Bitcoin would be worth a trillion dollars if people knew the power of the cryptocurrency,” said Kraken CEO

The price target is possible for the executive, although it appears to be far away as the dollar will “die” as the world reference currency.

“In ten years, the US dollar will continue to print like crazy. It will be completely useless. Nobody will want it. Everyone will want Bitcoin,” he said.

Bitcoin Reaches $ 100,000 “Simply”

However, as long as the dollar continues to be the global currency, Powell’s Bitcoin will easily reach $ 100,000 next year.

According to him, this is being driven by increasing institutional demand for cryptocurrencies at this point.

The fact that Kraken is already a witness, according to the executive.

“I think we are in a completely unprecedented time in terms of global political and economic systems. I think this will continue to lead to a fairly massive change in digital currencies. I think we will probably see 1 BTC in the next few years will see over $ 100,000. ” said.

At Kraken, he reports that the creation of new accounts by the institutional market has increased significantly in the past two months.

However, what is preventing a boom in institutional exposure to BTC is the regulatory problem.

“Anecdotally speaking, we’ve seen a huge surge in new bank accounts over the past two months. I think something that is preventing more institutions from entering the crypto ecosystem is the uncertainty surrounding the regulatory situation,” he said . .

Despite his optimism, Powell says money is still the king of the market right now.

For him, this is also an essential factor that works against Bitcoin in the current macroeconomic climate.