I would not place my bets on Bitcoin. Kraken CEO:

Bitcoin


  • Kraken CEO Jesse Powell stated that he believes Bitcoin can rise in 2022 even though he understands the risks.

  • Powell predicted the last rally would see a ‘Bugatti For1 BTC’ purchase.
  • Bitcoin transactions average around $23,680

  •  

Kraken CEO Jesse Powell stated that he is still bullish about Bitcoin (BTC). He stated that he still dreams of buying a Bugatti using just one Bitcoin. He stated in an interview that he wouldn’t place a wager on the flagship cryptocurrency.

Powell also commented on the US Treasury’s sanctions against Tornado Cash, a crypto-mixing platform. In light of the recent crypto turmoil, Powell viewed the move not only as “HT0_ Unconstitutional “, but also as “HT1_ Knee Joker Reaction “.

He stated that the constitution will not allow for the removal of sanctions.

Powell believes Bitcoin could soar in 2022

Bloomberg reported that Powell said to Bloomberg that in 2021, one Bitcoin could purchase Lambo. This was to refer to the realisation of the Crypto Twitter phrase, “when lambo”, which is the time when one Bitcoin could buy Lambo. Powell predicted that by 2022, there would be “one bitcoin per Bugatti”.

Bitcoin hit a peak at $69,000 in November 2017, before closing at $46,000 in 2020. The crypto asset fell to $17,600 in June after another rejection at the $25k level. It trades at $23,680.

Bullish Powell believes Bitcoin can rally even after the year ends for the Lambo Bugatti dream. He isn’t willing to lose sight of his dreams considering the events in 2022.

He said that he did not expect the whole crazy, craziness in the macro environment. However, it does not necessarily mean that he is now bearish.

“I remain bullish. I bought Bitcoin again at $18,000 so it’s possible for it to rise. Long-term, I remain bullish. He said that the fundamentals are improving, and he wouldn’t place a wager on Bitcoin.

Powell’s comments come as the crypto industry attempts to overcome the difficulties that have characterized the last few months.