According to the CEO of cryptocurrency exchange Kraken, he is “still bullish” on Bitcoin’s price and believes that global economic conditions will begin to favor BTC.
Despite Bitcoin’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.
“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 Bitcoin’s price, including the current economic context, which is demonstrating crypto’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 Bitcoin’s store-of-value attributes were growing increasingly appealing in comparison to the lagging dollar and other national currencies.
The CEO also said that the crackdown on protesters and “legitimate fundraising activities”
were providing investors greater reason to trust Bitcoin’s long-term value. Powell’s remarks follow a Canadian incident concerning the Freedom Convoy truckers’ challenges to receive donations. That’s, through centralized crowdfunding sites like GoFundMe owing to a government crackdown on vaccine mandate protesters.
CEO Powell claimed that Bitcoin was solving “real-world problems”. Then, and providing individuals with alternatives to a fiat monetary system that was becoming increasingly restrictive.
CEO Powell summed it up by noting that Bitcoin is a “vote for liberty.”
And yesterday, the Kraken CEO had this to say regarding Canadian authorities’ orders to freeze bitcoin on centralized exchanges belonging to protesters’ and sympathizers’ wallets.
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