On Friday, the 4th of June, the CEO of the crypto exchange, Kraken Jesse Powell, shared his latest thoughts on BTC.
He passed the comments in an interview with Emily Chang from Bloomberg just a day after Kraken announced that it had released a new mobile application instrumental for newbies in the crypto space or even the experienced traders that would love to trade crypto easily and quickly on the go.
When he asked on the current outlook of crypto in the United States by Chang, he said:
“It is quite obvious that the market is red hot currently, and the US is a huge market. We are really happy to offer a retail product to the market finally. Our app has been available for some time now. It allows people to buy crypto straight from their bank accounts and sell directly to the bank. For people, this is a huge convenience, and they have been requesting it for a while now. We believe this is a huge opportunity in the United States and the rest of the world.”
Chang also requested Powell to give his end of the year prediction for the price of Bitcoin. Powell replied by saying, “I agree that you can forward delivery a Lambo currently with discount at a cheap amount of $37,000. As you know, many people are buying the dip. For me, I am googling how I can sell my kidneys currently. It turns out it is illegal. But it is my body and my choice. But really, a lot of people are ready to sacrifice their foods for junks to acquire BTC at this current level.”
“I think with everything that is happening in the city of Miami currently, the excitement in the space is huge. People have seen this thing rise rapidly, you know, and they are not worried by a small dip. We have seen this over and over. Crypto is a roller coaster – to tolerate it. However, you must have an iron stomach. But to those that can handle it, there are massive gains.”
Chang then asked Powell if it is wise to put everything into BTC. Powel responded, “Don’t pur=t more than you can afford to lose. Do not gamble your rent. The price can move about 50% up or down. So, you will need to be able to put what you can hold for about 5 to 10 years. Crypto is a very risky investment, but in a long-term perspective, it is a fantastic investment.”