Jesse Powell, CEO of crypto exchange Kraken, thinks that Bitcoin (BTC) will not be displaced anytime soon. However, according to him, we can witness the struggle of more than one successful altcoin project. Here are the details…
Jesse Powell says he has full confidence in Bitcoin
In a recent interview with Yahoo Finance, Kraken’s CEO said that from the perspective of BTC’s store of value, as the crypto market continues to grow, Ethereum (ETH) may have some competition in the smart contract space:
I think Bitcoin is still the best at storing value. I still think it’s the best when it comes to security. I don’t see Bitcoin breaking down in the near term.
Jesse Powell continues:
We are fully prepared to grab space among smart contracts. I think Ethereum is the dominant player right now, but we are seeing Polkadot (DOT), Solana (SOL) and other Blockchains coming from Ethereum that could steal most of this thunder regarding smart contracts.
Jesse Powell thinks different altcoin projects will be included in the industry
The CEO also says he envisions a scenario where, despite the competition between blockchains, many cryptos coexist and serve their own use cases:
I think we will continue to see the evolution of these Blockchains. I think everybody’s game is that way right now. I think we’ve finally come to a world where there are so many successful Blockchains running at the same time.
cryptocoin.com As we quoted Powell previously predicted that a BTC would eventually be worth a Lamborghini and later a Bugatti. In perspective, a new Bugatti costs between $1.7 million and $3 million. It is currently trading at $64,837 and $4,709 in Bitcoin and Ethereum.
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