Kraken CEO Sees $1 Million Bitcoin in the Next Decade

The Chief Executive Officer and co-founder of Kraken Exchange, Jesse Powell, has made a bold Bitcoin prediction in a recent interview with Bloomberg.

Powell said Bitcoin could hit $1 million in the next decade, adding that supporters of the crypto asset are already saying it could replace all major fiat currencies.

He went on to predict a disruptive future that would stretch even the imagination of the most ardent crypto fans.

“We can only speculate, but when you measure it in terms of dollars, you have to think it’s going to infinity,” he said. “The true believers will tell you that it’s going all the way to the moon, to Mars and eventually, will be the world’s currency.”

He added that his San Francisco-based Kraken is looking to go public next year.

The CEO explained that Bitcoin bulls see surpassing the combined market value of the dollar, euro and other currencies.

The dollar “is only 50 years old and it’s already showing extreme signs of weakness, and I think people will start measuring the price of things in terms of Bitcoin,” he said.

Bitcoin declined by 4.31 percent to $48,329.97 per coin amid rising yields and growing economic recovery.