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Jesse Powell: "I'm still hoping to buy a Bugatti for one Bitcoin"

Powell-still-hoping-to-buy-a-Bugatti-for-one-BTC Jesse Powell | Kraken CEO

Kraken CEO Jesse Powell said he remains bullish on Bitcoin. He still hopes to buy a Bugatti luxury car for 1 BTC. In an interview with Bloomberg Exclusive, Jesse Powell said he would not oppose Bitcoin despite the fact that his BTC predictions last year fell short.

He previously suggested that by the end of 2021, one Bitcoin could buy a Lamborghini car, and by the end of 2022, a Bugatti. Powell did not expect the "crypto winter" to be too extreme for the market, but still, he does not give up hope of buying a luxury car for the first cryptocurrency. Bitcoin is currently trading at around $24,000 per coin, while Bugatti models range in price from $1.9 million to $3.3 million.

"I bought Bitcoin again at $18,000 and I'm glad it's going up. I remain confident in the long-term outlook for Bitcoin as its fundamentals continue to improve. I would never bet against Bitcoin," 

Powell said.

Due to the high market volatility, many cryptocurrency exchanges were forced to reduce their staff, among them were Gemini and Coinbase.

Earlier, Kraken management announced that it was not experiencing financial difficulties, and therefore did not intend to fire its employees. However, in June, the exchange fired about 20 people due to their "inadequacy of the company's culture." According to Powell, they were too focused on the problems of the Western world, and not on the current problems of the exchange.

Not only Powell is sure that the Bitcoin rate will reach unprecedented heights. A few months ago, Bloomberg Intelligence senior commodities analyst Mike McGlone said that Bitcoin could reach $100,000 by 2025. 

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