While bitcoin prices have soared between $ 46k and $ 48k in the past three days, a number of proponents are still optimistic about the cryptocurrency’s long-term value. On Thursday, Jesse Powell, CEO of Kraken, said he thinks bitcoin could easily reach a valuation of a million dollars per coin. “When you measure it in dollars, you have to think it’s going infinite,” Powell emphasizes.

Bitcoin to Infinity and beyond

During the past weeks as bitcoin (BTC) prices climaxed above $ 58k, some crypto advocates and analysts think BTC could be six digits in USD value region. There have been many suggested calls BTC will hit $ 100k this year and even people who say it could reach $ 200 to $ 350k per unit.

After bitcoin hit an all-time high (ATH) on February 19, 2021, the CEO of cryptocurrency exchange Kraken on Thursday Bloomberg told reporter Lynn Thomasson that he believes the most important asset could one day make $ 1 million.

$ 1 million per BTC in 10 years: 'In dollar terms, Bitcoin is going to infinity,' says Kraken CEO
In 2011, Kraken founder Jesse Powell visited the offices of the Mt Gox bitcoin exchange after the Japanese company’s security breach in 2011. Powell told Bloomberg that he started working on Kraken as a replacement for Mt Gox when he started working with the Mt Gox ten years ago. exchange began. In ten years, Powell thinks bitcoin could tap a price tag of $ 1 million per unit.

Don’t call too many people with seven digits BTC prices, but Jesse Powell, the CEO of Kraken said; “We can only speculate, but if you measure it in dollars, you have to think it’s going infinite.”

The founder of the San Francisco trade fair said that “true believers” think BTC could replace all global currencies. “The true believers will tell you that it will go all the way to the moon, to Mars, and eventually be the currency of the world,” Powell said in his recent interview.

Powell also announced that the Kraken company is considering an initial public offering (IPO) next year in the footsteps of the popular crypto exchange also based in San Francisco, Coinbase.

Kraken research: ‘Long-term trends show that we are still a long way from a major market cycle summit’

Kraken also published one Market overview February 2021 on Fridays, reviewing a number of key takeaways. A few of them are, BTCLogarithmic Regression Retracement data, bitcoin price returns and volatility, among other digital assets in the crypto economy.

“Historical price moves show that corrections in the bitcoin bull market are typically between 70 and 90%,” the Kraken researchers wrote on Friday. “In examining long-term trends, our analysts conclude that we are still a long way from a major market cycle summit.”

Powell is also optimistic about it BTCsteady rise and the value of the major cryptocurrency against the US dollar.[The U.S. dollar] is only 50 years old and already showing extreme signs of weakness, and I think people will start to measure the price of things in terms of Bitcoin, ā€¯concluded Powell from Kraken.

What do you think of the prediction of the CEO of Kraken BTC can reach a million dollars per unit? Let us know what you think about this topic in the comments section below.

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