Kraken CEO Jesse Powell claims that Bitcoin will one day become a global currency.
In 2018, Jack Dorsey, the CEO of both social media giant Twitter and payment company Square, claimed that Bitcoin would become a global currency. Powell stated that within ten years it will become the world’s only currency and replace all known fiat forms. While Bitcoin has not yet fully reached this level, the idea of BTC and its digital counterparts is that they will one day replace all forms of national currency and serve as the ultimate source of payment for both goods and services.
“Bitcoin could be $ 1 million”
Today this dream is coming true, as many major companies, including Tesla, Uber, and General Motors, have noted in the past few weeks that they have considered Bitcoin as a potential payment method alongside cash and credit cards. Jesse Powell is confident that Bitcoin will eventually be used by many different people in many different countries.
He also stated that the asset could potentially reach a price of $ 1 million. While everyone wants to see BTC reach this price, it will take some time for the asset to move into the seven-digit zone, as we learned from McAfee’s forecast for 2020.
Powell thinks that $ 1 million is something that could easily happen in the foreseeable future, as many forms of national currency already suffer and show “signs of undue weakness.” In a recent interview, he said:
It will eventually become the world’s currency. In the near term, people see gold as a storehouse of value that surpasses gold, so I think a price target of $ 1 million over the next decade is quite reasonable.
Kraken is considered one of the largest and most powerful cryptocurrency exchanges of all time and currently manages more than $ 10 billion worth of digital assets.