I Would Never Bet Against Bitcoin, Says Kraken CEO

Kraken CEO Says he can never go against Bitcoin.

Jesse Powell, CEO of the leading American cryptocurrency exchange Kraken, said in a recent interview with Bloomberg that he would never bet against Bitcoin (BTC), the first and largest digital currency in the world, after his previous prediction last year failed. 

During the 2021 boom market, which saw BTC peak at $69 000 per coin, Powell made a forecast suggesting that one bitcoin would be able to purchase the luxurious Lamborghini vehicle while the coin was trading at around $48,000. 

“Probably by the end of the year [2021], it’ll be one Bitcoin per Lambo, and probably by the end of next year [2022], it’ll be one Bitcoin per Bugatti,” he said. 

The Kraken CEO said he is still very bullish on Bitcoin, noting that he purchased the cryptocurrency when bitcoin hit $18,000 recently over the economic meltdown that affected the entire global market. 

“I bought Bitcoin again at 18,000, and I’m happy to ride it back up. I’m still bullish on the long run, and the fundamentals keep improving. I’d never bet against Bitcoin,” he said. 

“I would never bet against Bitcoin,” says Kraken CEO Jesse Powell after his 2021 Bitcoin forecast fell short.

Cryptocurrencies were mostly little changed as the recent rally in market bellwethers Bitcoin and Ether cooled https://t.co/IyDuXQEi6L pic.twitter.com/RmeNEvXfyU

— Bloomberg TV (@BloombergTV) August 16, 2022

Powell also disclosed that he hopes to buy Bugatti with one BTC by the end of 2022, noting that the blockchain fundamentals have improved since inception.  

Meanwhile, bitcoin is trading around $23,000 at press time, which is still a long run for Powell to acquire his Bugatti this year. 

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