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- Jesse Powell, the chief executive officer of Kraken, U.S. based crypto exchange and bank, gave an interview to Bloomberg.
- In the interview, the CEO revealed that he was confident about Bitcoin till now and desired to purchase a Bugatti for just one Bitcoin by the end of this year.
Powell was invited to the same show in the last year in which he stated:
“Hopefully by the end of 2021, one lambo will cost for just one Bitcoin and similarly, by the end of 2022, one Bugatti will cost for one Bitcoin.”
At the time of the interview, Bitcoin was trading at $48,000. He didn’t back off when he was recalled of his predictions on August 26. At the time of stating, he hadn’t thought the winter market to be affected this badly.
Currently, Bitcoin is being traded at about $24,000, and the range of Bugatti’s car ranges in between $1.9 million and $3.3 million.
Powell is still very confident in Bitcoin:
“I have purchased Bitcoin at 18,000, and I am excited to experience it for one more time. I am still very confident on the long duration, the basics keep enhancing. I would never ever stake against Bitcoin.”
Confidence in Bitcoin
Even after there is no chance of Bitcoin beating the cost of Bugatti, several crypto officials are confident about Bitcoin and trust that it will rise after the winter situations are done.
McGlone, the senior commodity expert of Bloomberg, revealed that he thought of Bitcoin to trade for over $100,000 in the coming three years. On July 14, McGlone surveyed the market and reached to the conclusion that he didn’t expect that Bitcoin would find its floor, but it was unavoidable for it to rise once it did.
After some days, the chief executive officer of Galaxy Digital, Michael Novogratz, shares his predictions about bitcoin, that it will hit $500,000 by 2027. He surveyed the rate of adoption and amount from the market downturn to reach to the conclusion that the winter market was just a small jerk in the path of adoption, not exactly a U-turn.”
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
