Kraken’s CEO Jesse Powell: US Dollar Will Go To Zero, BTC Below $40K

Kraken’s CEO Jesse Powell believes that the US dollar will go to zero in the future but Bitcoin will go below $40K which will be a huge opportunity as we can see more today in our latest Bitcoin news today.

The BTC market looks tepid as the 2021 year ends. While CoinMarketcap’s Christmas spirit turned out to be a glitch, the regulators are fighting to bring the $2.2 trillion market under government oversight which further delayed the chances of a relief rally. With a fortnight left, BTC predictions are starting to pop up and this time it was Kraken’s CEO Jesse Powell who believes that the number one cryptocurrency could drop below $40K but that’s not all. Jesse Powell predicted previously that BTC will hit $100,000 by the end of 2021 but he mentioned there are only a few hours left at a press time price of $48,296 with the current trend as milestones being bold as the one claimed could not transpire.

In the recent interview with Bloomberg, the executive there is a possibility of BTC going down to $42,000 but he also said that a drop below $40,000 will offer a purchase opportunity for market participants:

“But I think a lot of people see anything under the $40,000 as a buying opportunity. I was personally buying when we dipped back to $30,000 a few months ago. A lot of people have some dry powder on the sidelines just waiting to come back in at rock-bottom prices.”

Talking about the not precise price prediction, Powell thought that we will all be spending BTC to buy coffee in BTC back in 2011 but that is not likely to happen soon as the executive believes in the long-term trendline of BTC. He asserted that BTC should be considered a five-year plus investment but rather than trading in a short time frame, Powell said the crypto is a buy and hold investment. In line with the exchange’s $100K BTC prediction, the executive has a new one that Dollar is going to zero. He went on to say that people should start stocking if they are able to prepay the expensive bills. Powell didn’t stop there and the CEO of the premier exchange also said that the interest rates will drop into the negative region urging people not to hold the USD while bitcoin will go lower.

On the regulatory aspect in the United States, Powell said that due to the uncertainty and lack of a regulatory regime, many companies resorted to shifting their base offshore and are looking for a better climate while others remain on the sidelines.