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“Layer 2 networks make Bitcoin as easy to use as the dollar”

June 17, 2020

In a recent interview about Bloomberg Jesse Powell, CEO of Kraken, said that Layer 2 (or second layer) networks They make Bitcoin (BTC) as easy to use as the US dollar.

Powell said that too Institutional investors join the world of Bitcoin as if they would follow a flock of sheep. Finally, he recommended the cryptocurrency as Protection against dollar manipulation from the Fed (United States Federal Reserve)

In the future, everyone will use BTC without knowing how the technology behind it works

Powell highlighted Bitcoin’s success as a store of value: Given the predictable and limited nature of both distributions, many chose Protect your wealth from inflation by investing in BTC. In her opinion, Cryptocurrency will even outperform gold in the future.

“Layer 2 networks make Bitcoin as easy to use as the dollar”“Layer 2 networks make Bitcoin as easy to use as the dollar”

It also predicts that Coating solutions 2nd makes Bitcoin quick and easy to use:

“Very soon, all of the technology behind Bitcoin will disappear and turn into a US dollar: Nobody understands how it works, but everyone uses it.”

Institutional investors will follow the herd

Powell announced that there has been one in the past three months massive influx of new accounts from all types of investors: Hedge fund managers, capital managers, private investors and traders. Even if the long awaited mass adoption from the institutions has not taken place yet, In his opinion, this event is now close.

Paul Tudor Jones, founder of Tudor Investment Corporation, recently announced this 2% of his wallet is BTC: the new will push other large institutional investors take the big step.

Regarding the risk of whale manipulation of cryptocurrencies, Powell emphasized that traditional markets are also manipulated:

“Think of the Fed buying junk bonds from failed US companies. It’s ridiculous that the market is being manipulated. They print billions of dollars to add value to stocks.”

You can no longer value things in dollars, inflation will get out of control very soon. I would personally buy Bitcoin as a hedge against this inflation. “