Jesse Powell, chief executive officer of crypto exchange Kraken, has a very bold prediction of Bitcoin — it could be valued as much as $1 million in the next ten years.
The forecast surely makes many analysts’ bitcoin price targets of $100,000 or even $400,000 seem puny.
“Of course, you know, we can only speculate, but when we measure it in terms of dollars, you have to think it’s going to infinity,” Bloomberg TV quoted Powell as saying Thursday, as Bitcoin (BTC) breached past the $50,000 level.
‘Bitcoin headed to the moon’
National currencies are already showing huge indications of sluggishness, and people will soon begin gauging the price of things in terms of Bitcoin, he pointed out.
Powell was making his comments as the US dollar retreated alongside a market sell-off Wednesday, an event that had next to no major effect on Bitcoin. At the same time, the US national debt quietly ballooned to more than $28 trillion for the first time in history.
“I think true believers (of the crypto) will tell you Bitcoin’s headed all the way to the moon, to Mars, and eventually it’ll be the world’s currency,” Powell added.
Far-out prediction for Bitcoin
Despite the obviously outrageous price prediction, the San Francisco-based Kraken top honcho is not the only one to forecast a million dollars or more per single BTC. It’s a view that even Hal Finney, one of the cryptocurrency’s earliest known advocates and developers, laid out in 2011.
According to Finney back then, Bitcoin would be valued at more than $10 million per token if the wealth of all families in the world were funneled into it.
As Cointelegraph stated, Bitcoin settled February almost 27% beyond its target dictated by the stock-to-flow-based price models, with creator PlanB still confident that the crypto will reach the $100,000 mark sometime this year.
Indeed, many analysts contend that Bitcoin is in a speculative bubble and that its actual market value is zero. All views considered, in the coming years, Bitcoin should be valued at somewhere between nil and infinity — if that makes sense.
Image courtesy of Karolina Grabowska/Pexels
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Source: https://bitcoinerx.com/blockchain/kraken-ceo-jesse-powell-says-bitcoin-price-is-headed-to-infinity/
