Kraken CEO Jesse Powell ‘Very Bullish’ on Bitcoin, Says He Wouldn’t Bet Against BTC
The CEO of crypto exchange Kraken says he remains very bullish on Bitcoin (BTC) and that its improving fundamentals make it difficult to bet against.
In a new interview with Bloomberg Markets and Finance, Kraken CEO Jesse Powell says he bought more BTC when it was around $18,000 and hopes it will continue to climb even higher.
12:20 “I didn’t expect all this craziness in the macro environment, but I still hope that I will be able to buy a Bugatti by the end of the year for a Bitcoin …
I’m still very bullish, I bought Bitcoin again at $18,000 so I’m happy to run it all the way up again. I am still very bullish on the long run, [its] The fundamentals keep getting better, so I would never bet against Bitcoin.”
Powell also noted a lack of regulatory clarity could act as a temporary headwind for crypto. He says agencies like the US Securities and Exchange Commission (SEC) may try to interpret the law in a way that allows them to regulate all crypto firms.
10:23 “We’re about 13 years into Bitcoin now and we still don’t have an answer from the government on this. I think it’s largely a legislative failure, I think regulators are going to read the law to increase the scope as much as possible.
And as we’ve seen with the SEC, they really have the view that basically everything is a security, and they’d like to regulate everything and be the regulator of all crypto companies.”
Bitcoin is changing hands at $23,412 at the time of writing, down 1.8% on the day.
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Featured Image: Shutterstock/Quanrong Huang/Chuenmanuse
