Cryptocurrency exchange KrakenThe CEO said that he expects “still bullish” in Bitcoin price and that global economic factors will start to work in BTC’s favor.
Kraken CEO speaking in a recent interview with Bloomberg Technology Jesse PowellHe said that although the crypto-asset failed to hit $100,000 last year, it still has a positive outlook for Bitcoin’s price. Powell used the following statements on the subject:
“I’m still optimistic about the price. Many of us thought we were going to exceed $100,000 last year, but you know you can’t predict that.”
Powell pointed to a number of factors that have positive effects on Bitcoin’s price, including an economic environment that has proven use cases for crypto. InflationHe noted that flour is at an all-time high since the 1980s, reflecting an even greater increase in market prices. Powell argued that compared to the dollar and other national currencies, Bitcoin’s store of value properties make it more attractive.
He also argued that restrictions on protests and “legitimate fundraising efforts” give investors more reason to believe in Bitcoin’s long-term value. Powell’s comments are due to government crackdown on the Freedom Convoy truckers’ vaccination requirement protesters. GoFundMe It came after a Canadian scandal involving struggles to get funding through centralized crowdfunding platforms such as
“When we go to the supermarket, we all know that inflation is well above 7.5%. Combined with other things, such as restrictions on protests and legitimate fundraising efforts, I think, the use case for Bitcoin is getting stronger. And there is more and more reason to believe that in the long run.”
Powell argued that Bitcoin manages to solve “real world problems” and offers people alternatives to an increasingly restrictive fiat money system.
“You know that Bitcoin is more than price speculation. It solves real-world problems as we saw in Canada, where you have fundraisers shut down by the government or centralized fundraising platforms, and Bitcoin transcends that and provides money directly to people.”
Powell concluded by saying that Bitcoin is “a vote for freedom.”
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