Kraken Crypto Exchange CEO Still Believes Bitcoin Rising, Jesse Powell: May End Of 2022 One Bitcoin Equals Bugatti

CEO Kraken Jesse Powell. (AZCoinNews)

JAKARTA – Kraken is one of the largest cryptocurrency exchange companies in the United States. CEO Jesse Powell expressed his optimism for the Bitcoin price movement.

According to him, the price of Bitcoin by the end of 2022 will be on par with Bugatti. Powell made this statement in an interview with Bloomberg recently.

When interviewed in Bloomberg Exclusive, the Kraken boss was reminded of his forecast from last year. At that time Powell hosted the same event in 2021 where he said:

“Maybe by the end of [2021] it will be one Bitcoin per Lambo, and maybe by the end of next year [2022] it will be one Bitcoin per Bugatti,” quoted by CryptoSlate.

At the time, Bitcoin was trading at around 48.000 US dollars. He did not back down when Powell was reminded of his prediction on August 26. While saying he doesn't expect winter markets to take a hit, he still hopes to buy one Bugatti for one Bitcoin by the end of 2022.

“I bought Bitcoin again at 18.000 US dollars, I am happy to raise it again. I am still bullish in the long term, fundamentals continue to improve. I would never bet against Bitcoin,” Powell added.

The decline in the crypto market in recent months has rocked crypto companies. A number of prominent companies such as FTX, Crypto.com, Robinhood, Coinbase, BlockFi and others were forced to cut their employees. According to Powell, Kraken has not laid off its staff at all.

Previously, Kraken was investigated by the US Treasury regarding violations by the company. At that time Kraken was considered to have allowed users from countries subject to US sanctions such as Iran, North Korea, Cuba, Syria and others.

Nonetheless, Jesse Powell is not the only one who thinks Bitcoin will be bullish. A senior commodity strategist from Bloomberg, Mike McGlone predicts the price of Bitcoin will cross 100.000 US dollars by 2025. However, McGlone does not know whether the decline in Bitcoin prices is still continuing or is it over.

Based on data from CoinMarketCap, at the time of writing, Bitcoin is trading at a price of 23.400 US dollars (approximately 347 million) per BTC. In the last 24 hours the price of Bitcoin fell 4.06%.