One of the leading crypto exchanges Kraken‘s CEO Jesse Powellannounced that he believes Bitcoin (BTC) will not be displaced anytime soon and BTC will continue to be “king”.
Speaking in an interview with Yahoo Finance, Powell stated that while BTC remains a continuing crypto asset from a “store of value” perspective, Ethereum (ETH) will find itself competing in the smart contracts space.
“According to me Bitcoin (BTC) still the best at storing value. I don’t think Bitcoin can take damage in the near term.
I think everyone is ready to take a seat in the smart contracts game. if you ask me Ethereum (ETH) strongest player right now Polkadot (DOT) and Left (LEFT) You can also see that some blockchains like this one are trying to come to steal this seat from Ethereum.”
According to the CEO, he also stated that although there is serious competition between blockchains, each chain is shaped according to its own use case, and therefore he believes that they can somehow protect their presence and power.
“I think we will continue to see the evolution of these blockchains. I think it’s everybody’s game now. At the end of the day, I think we will see many successful blockchains running simultaneously.”
CEO powell He previously believed that 1 BTC would sooner or later be worth a Lamborghini or even a Bugatti. The levels Powell stated correspond to an average of $1.7 million to $3 million in cash.
Bitcoin is currently trading around $65,000.
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