Kraken CEO Jesse Powell Remains Bullish on Bitcoin and Aims to Buy a Bugatti Luxury Car with 1 BTC
Kraken CEO Jesse Powell is known for his optimistic predictions about Bitcoin's price. Although his BTC predictions last year fell short, Powell remains confident in the long-term outlook for Bitcoin. In an exclusive interview with Bloomberg, Powell shared his thoughts on Bitcoin and his goal to buy a Bugatti luxury car with 1 BTC.
"I bought Bitcoin again at $18,000 and I'm glad it's going up. I remain confident in the long-term outlook for Bitcoin as its fundamentals continue to improve. I would never bet against Bitcoin,"Powell said.
Powell's Optimistic Bitcoin Predictions
Powell previously predicted that by the end of 2021, one Bitcoin could buy a Lamborghini car, and by the end of 2022, a Bugatti. Despite the market experiencing a "crypto winter," Powell remains optimistic and does not give up hope of buying a luxury car with Bitcoin. Currently, Bitcoin is trading at around $24,000 per coin, while Bugatti models range in price from $1.9 million to $3.3 million.
"I would never bet against Bitcoin," Powell said, adding that he remains confident in the long-term outlook for Bitcoin as its fundamentals continue to improve. He recently bought Bitcoin again at $18,000, and he is glad that the price is going up.
Kraken's Stance on Staff Reductions
Many cryptocurrency exchanges were forced to reduce their staff due to high market volatility. However, Kraken management announced that they were not experiencing financial difficulties and did not intend to fire their employees. In June, the exchange fired about 20 people due to their "inadequacy of the company's culture." According to Powell, they were too focused on the problems of the Western world and not on the current problems of the exchange.
Bitcoin's Future Price Prediction
Powell is not alone in his optimistic predictions for Bitcoin's future price. Bloomberg Intelligence senior commodities analyst Mike McGlone believes that Bitcoin could reach $100,000 by 2025. With more and more institutions and individuals investing in Bitcoin, its price is expected to rise in the long run.
Despite the market experiencing a "crypto winter," Kraken CEO Jesse Powell remains bullish on Bitcoin's long-term prospects. He believes that its fundamentals continue to improve, and it will eventually reach unprecedented heights. Powell's goal to buy a Bugatti luxury car with 1 BTC may seem far-fetched, but with Bitcoin's potential for growth, it is not impossible. As more people invest in Bitcoin, its price is expected to rise, and it may reach $100,000 or even more by 2025.