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.
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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.