There are many predictions about the Bitcoin price of the future. While many claim that Bitcoin won't be worth anything in a few years, other well-known figures are likely to see a course in the hundreds of thousands or millions. The CEO of the crypto exchange Kraken goes one step further.
Hyperinflation: US dollars will be worthless in the future
In a call with the investment company Pantera Capital, Kraken CEO Jesse Powell speculates about a Bitcoin price of up to USD XNUMX trillion. Unfortunately, this enormous rise in spa rates is currently not realistic. Because for the oldest and most famous cryptocurrency in the world to reach this value, every citizen of this planet would have to understand and appreciate the advantages of Bitcoin:
Most people have heard of Bitcoin, but they don't have Bitcoins. You don't know what the future of Bitcoin is. I think if everyone knew about Bitcoin's potential and how great it is, the price would be a trillion dollars. We would all switch to Bitcoin and never use anything else again.
One of the big advantages of Bitcoin is protection against inflation, because there will never be more than 21 million Bitcoins (BTC). This is absolutely not the case with the US dollar, as a lot of new money has been printed in the USA, especially in recent weeks. Powell believes that if this behavior continues, the dollar will eventually be completely worthless. This scenario is currently not included in the Bitcoin price.
Midterm, Powell thinks that a Bitcoin price of $100,000 USD is possible within the next two years.
Not your keys, not your coins
The Kraken CEO has drawn attention to important aspects relating to Bitcoin and cryptocurrencies in the past. Because if you understand Bitcoin correctly, you should also pay attention to the correct storage of the cryptocurrency.
For convenience, many investors store their purchased cryptocurrencies on an exchange. Most are not aware of the risks of this method. Because if the exchange is hacked, there is a possibility that all the cryptocurrencies you have bought are gone. You are not entitled to the investment. Kraken's CEO has addressed the community in the past, stressing the importance of keeping it in your own wallet, of which you are in control of its private keys.
Markus from Kryptokumpel.de
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