Kraken CEO Jesse Powell ‘Very Bullish’ on Bitcoin, Says He Wouldn’t Bet Against BTC

The chief govt of crypto change Kraken says that he’s nonetheless very bullish on Bitcoin (BTC) and that its enhancing fundamentals make it laborious to guess in opposition to.

In a brand new interview with Bloomberg Markets and Finance, Kraken CEO Jesse Powell says that he purchased extra BTC when it was round $18,000, and hopes it’ll proceed to climb even increased.

12:20 “I wasn’t anticipating all this craziness within the macro surroundings, nonetheless, I’m nonetheless hopeful that I’ll have the ability to purchase a Bugatti by the top of the yr for one Bitcoin…

I’m nonetheless very bullish, I purchased Bitcoin once more at $18,000, so I’m pleased to journey all of it the best way again up. I’m nonetheless very bullish in the long term, [its] fundamentals maintain enhancing, so I’d by no means guess in opposition to Bitcoin.”

Powell additionally famous lack of regulatory readability could act as a short lived headwind for crypto. He says businesses such because the US Securities and Change Fee (SEC) could attempt to interpret the regulation in a method that will permit them to manage all crypto corporations.

10:23 “We’re about 13 years on with Bitcoin now and we nonetheless don’t have solutions from the federal government on this. I believe it’s largely a legislative failure, I believe regulators are going to learn the regulation to extend their scope as a lot as potential.

And as we’ve seen with the SEC, they actually take the view that mainly every part is a safety they usually want to regulate every part and be the regulator of all crypto firms.”

Bitcoin is altering palms for $23,412 at time of writing, a 1.8% dip on the day.

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Featured Picture: Shutterstock/Quanrong Huang/Chuenmanuse