Kraken CEO Expects Bitcoin to Reach $250,000 by 2022

• Kraken CEO, Jesse Powell has predicted Bitcoin reaching $250k by next year

• Powell is a long term investor in crypto and he believes that the flagship cryptocurrency has great potential for growth

• BTC briefly reached an all-time high of $64,000 in mid-April before dropping off to $48,000 last weekend

Jesse Powell, the CEO of the world’s 4th largest crypto exchange, Kraken has opened up about Bitcoin.

Powell who is a long-term investor of the cryptocurrency revealed that it has great growth potential.

The bitcoin investor revealed that he expects BTC to go as high as $250,000 between now and 2022.

Powell expects BTC to keep surging till its next halving event in 2024.

A halving event is a process of cutting miners rewards in two. Normally, halvings result in a big surge of the flagship crypto.

Powell stated that it is difficult to predict the movement of the coin short-term.

Read also: $300 Billion Lost In Crypto Market Within 4 Days

According to Powell, it will soon become illogical to price cryptocurrencies against dollars due to the high inflation rate of the fiat currency.

He expects Bitcoin to be priced against a more constant asset in the future and also predicted it becoming the world’s reserve currency in the future.

Follow Naija.fm on our social media handles Facebook, Instagram, and Twitter to keep up with trending news, breaking news, entertainment news, and hot gist.