Bitcoin will eventually be a global currency - and a $1 million price target within the next 10 years is 'very reasonable,' Kraken CEO says
Bitcoinwill eventually be the world's currency, Kraken's CEO, Jesse Powell, told Bloomberg.
- "I think $1 million as a price target within the next 10 years is very reasonable," he said.
- The price of bitcoin is up 70% year-to-date.
He said that national currencies were "already showing extreme signs of weakness" and that people would soon start measuring the price of things in bitcoin."The true believers will tell you it's going all the way to the moon, to Mars, and eventually it'll be the world's currency," Powell said.
The price of bitcoin fell on Thursday by 0.4%, to $50,175, but is up 70% year-to-date. The price slipped earlier this week after Gary Gensler, the nominee to lead the Securities and Exchange Commission, said at his confirmation hearing that making sure crypto
Bitcoin believers expect it to replace fiat money, and the market capitalization of all national currencies combined could make up its worth, Powell said.Read more: UBS: Buy these 14 back-to-normal stocks now before a 'sharp acceleration' in consumer spending in Q2 as vaccinations pick up
- Congress leader Rahul Gandhi tests positive for COVID-19
- FAQs about COVID-19 drugs answered by AIIMS’ director Randeep Guleria
- Uttar Pradesh to go under weekend curfew from April 24, UP minister Hanuman Mishra succumbs to COVID-19
- Apple Spring Loaded event – How to watch live, what to expect and everything you need to know
- Adidas launches a new global series to remind its audience that impossible is nothing; features Ranveer Singh, Hima Das and Beyoncé