According to the CEO of crypto currency exchange Kraken Still Bullish on Bit coin price and believes that global economic conditions will begin to favor BTC.
Despite Bit coin’s failure to surpass $100,000 last year, Kraken CEO Jesse Powell indicated in a recent interview with Bloomberg Technology that he still has a bullish outlook for the crypto asset’s price.
Powell stated, according to The Daily Hold,
“I’m still bullish on the price you know. A lot of us thought that we were going to get over $100,000 last year, but you know you can’t predict these things.”
Powell cited a variety of variables that are favorable to Bit coin’s price, including the current economic context, which is demonstrating crypt’s use.
Since the 1980s, he said, inflation has been at an all-time high, with grocery costs showing an even higher rise. Powell stated that Bit coin’s store-of-value attributes were growing increasingly appealing in comparison to the lagging dollar and other national currencies.
He also said that the crackdown on protesters and “legitimate fundraising activities” were providing investors greater reason to trust Bit coin’s long-term value.
Powell’s remarks follow a Canadian incident concerning the Freedom Convoy truckers’ challenges to receive donations through centralized crowd funding sites like GoFundMe owing to a government crackdown on vaccine mandate protesters.
Jesse Powell On Crypto Currency
Powell’s remarks follow a Canadian incident concerning the Freedom Convoy truckers’ challenges to receive donations through centralized crowd funding sites like GoFundMe owing to a government crackdown on vaccine mandate protesters.
Powell claimed that Bit coin was solving “real-world problems” and providing individuals with alternatives to a fiat monetary system that was becoming increasingly restrictive.” he explained.
He said,
You know Bit coin is more than price speculation. It’s solving real-world problems like we’re seeing in Canada where you have fundraisers being shut down by the government or by centralized fundraising platforms and Bit coin is circumventing that and getting around that and getting money directly to the people.
Conclusion
yesterday, the Kraken CEO had this to say about orders by the Canadian authorities to freeze crypto on centralized exchanges belonging to wallets associated with the protesters and their supporters.
Its possible Kraken will be put in a position where told to freeze assets by police without judicial consent. And ye will probably comply
Powell concluded by saying that Bitcoin is a “vote for freedom.”
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