The CEO of Kraken, Jesse Powell, predicts that the value of Bitcoin will exceed $100,000 within the next two years.
In yet another optimistic prediction for the king coin, the CEO of the California-based crypto exchange says BTC will cross the $100,000 mark as it continues its bullish run. In his interview with Bloomberg, he believes that as the Federal Reserve fights inflation on the USD through market manipulation, BTC will be used as a hedge. He believes that the BTC current price range (under $10,000) is a “massive discount”.
According to Powell, new investors are in high supply as many of them consider BTC a “safe haven”. Regarding BTC’s recent volatility and speculations surrounding crypto market manipulation, he said it is about the same thing going on in traditional markets. He responded:
“When you’re talking about manipulation, if you look at the Fed buying junk bonds from failed United States corporations, it’s a joke. The market is manipulated.”
In his opinion, this is why BTC will be used to hedge inflation. The CEO has previously made a bullish prediction about BTC.
Although many investors also consider gold a safe haven, BTC has set itself aside due to its high volatility. It lost over 50% in one day in March but gained it back and more within weeks.