The CEO of Kraken, the Unites States-based cryptocurrency exchange, Jesse Powell, believes that soon Bitcoin will become a currency for the entire world. While giving an interview with Bloomberg, Powell mentioned this. Powell has reasons to be bullish on Bitcoins and also believes that Bitcoins might have a very unruly future. However, this cryptocurrency will build the imagination of all its fans in a better way.
Bitcoin definitely has the ability to reach the value of 1 million dollars in the upcoming decade. It also might happen that Bitcoin will go all the way to outperform all the other major fiat currencies and replace all of them.
Jesse Powell believes that Bitcoin has the ability to become the world’s currency.
Powell truly believes that a 1 million dollar price target for Bitcoins is a reasonable one. Everyone can think about the fact that if Bitcoins are speculated in terms of Dollars, they are making their way towards infinity. The people who have total faith in Bitcoins will also say that these will go all the way to Mars, Moon and finally become the currency used globally.
In the world of Bitcoins, there are many ups and downs. Even among all these extreme forms of predictions are not something new for us. Supporters of cryptocurrency make their profits by convincing a large audience. They preach that this form of cryptocurrency is a precious asset. US dollars is still the world’s reserve currency and has always been used for trade worldwide. However, the value of US dollars has gone down a bit during the last few years.
The national currencies have started showing some severe signs of weaknesses. People are soon going to measure prices of things based on Bitcoins.
Bitcoin bulls have a vision that the value of Bitcoin will exceed the total market cap of the euro and the dollar one day. The dollar is just 50 years old and is showing weakness. This is not a very good sign.
The San Francisco Cryptocurrency exchange company, Kraken, will hopefully go public in the next year, as said by its CEO.
The world’s largest cryptocurrency has moved by 3% in the early trading in the United States on Thursday. An amount of 49,000 dollars is now floating around. When 2020 had begun, there was a surge in its prices and have gone up to 600% on the back of mainstream choice. The bulls considered it as a risky asset and a growing fence.
The critics of cryptocurrencies feel that these are all fuel bubbled. The bubble will soon burst like that of 2017’s cycle of boom and burst.