Popular Blockchain Investment and hedge funds firms Pantera capital organized a Conference call over Bitcoin halving and other events. Kraken CEO, who was a participant, shares his core ideas towards the current bitcoin situation.
CEO of Kraken, Jesse Powell in a conference call shed light on the popularity of cryptocurrencies like Bitcoin among the masses. According to him, the Bitcoin price will reach up to $1 Tr and the U.S dollars will lose its value.
Bitcoin is on the minds of every glooming business personality and celebrities, in line with the same, a series of statements are made on price crossing million, beating dollars and becoming the ideal payment system in near future.
Like Max Kieser the host of Keiser’s report talks about the security of bitcoin, comparing to altcoins and the Popular financial analyst’s John A. Bollinger and Tone Vays having positive views towards the price rally of bitcoin.
People Still Unaware of Bitcoin’s Potential – Jesse Powell
Powell believes Bitcoin price has long term potential but still the real capability of the cryptocurrencies is behind the clouds. People have not yet risen above traditional banking practices and are unaware of the middlemen’s activities.
Powell said that people know what is Bitcoin but have not owned it yet. If the masses were given proper education about the potential of cryptocurrencies, Bitcoin would have reached $1Tr mark till now and people would have shifted to Bitcoin from all other payment options.
Speaking on the future of the Bitcoin and the value of the U.S. dollars, Powell said,
“I think that there’s a lot that’s not priced in, even though it’s predictable, like what the future is. Ten years down the road, the US dollar is going to continue to be printed like crazy. It’s going to be totally worthless. No one is going to want it . Everyone is going to want Bitcoin. But that’s not priced in because of perceived risks or perceived uncertainty about the future, about regulation, about how does the government respond in different situations as Bitcoin continues to develop, or how it actually becomes?”
The Conference call also included Dan Morehead, CEO of Pantera who also had stated about the bitcoin price reaching $500,000 by Aug 2021 as a halving effect. Other Participants were Jeremy Allaire, Co-Founder, and CEO of The Circle and Joey Krug, CO-CIO Paul Veradittakit, Partner