The value of Bitcoin could reach 1 million within the next decade, according to Jesse Powell, CEO of crypto exchange platform Kraken.
“We can only speculate, but when you measure it in dollars, you have to think about it going to infinity,” Powell said during an interview with Bloomberg. “The ones who really believe in it (Bitcoin) will tell you it goes to the moon, to Mars and eventually, it will be the currency of the whole world.”
Powell said that the dollar, which is “only 50 years old, is already showing extreme signs of weakness.” In his opinion, people will soon start measuring the price of things in Bitcoin terms.
According to Kraken's CEO, we won't measure the price of Bitcoin in dollars, but rather calculate it based on anything we can buy with it.
When asked what Bitcoin's value will be in the coming years, Jesse Powell said that the cryptocurrency's proponents believe it will replace all the world's currencies and that it will very soon surpass the value of gold. "I think $1 million as a target price within the next 10 years is very reasonable," he added.
Recently, the price of Bitcoin has increased significantly.
According to data from CoinMarketCap, the value of the entire cryptocurrency, consisting of Bitcoin and other cryptocurrencies, surpassed $1 trillion for the first time in early January.
Bitcoin has added more than $415 billion to this value in 2021 alone.
Interest in Bitcoin has been extremely high lately. More and more companies are investing in the cryptocurrency . Last month, Elon Musk announced that Tesla had bought $1.5 billion worth of Bitcoin, and said it would soon start accepting it as payment. Square Inc. , a financial services company (payments, etc.) with CEO Jack Dorsey , also bought $170 million worth of Bitcoin.
Source: Yahoo Finance
