Kraken CEO still hopes to buy a Bugatti with 1 BTC

• Kraken CEO Jesse Powell hopes Bitcoin’s price could rise in 2022, but acknowledges the risk of another decline.
• Powell had predicted that the previous rally could see buys of ‘Bugatti for 1 BTC’.
• Bitcoin is currently trading at around $23,680.

Kraken CEO Jesse Powell says he remains bullish on Bitcoin (BTC) and wants to buy a Bugatti for 1 BTC. He told Bloomberg Crypto that he would not bet on mainstream cryptocurrencies. interview.

Powell also commented on the US Treasury Department’s sanctions against crypto-mixing platform Tornado Cash, seeing the move as follows:unconstitutional“When”kneeling reaction in the wake of the recent virtual currency turmoil.

He said there would be a constitutional challenge to the sanctions.

Bitcoin Could Rise in 2022, Powell Says

In 2021, as the price of Bitcoin has increased, Powell told Bloomberg that by the end of the year, 1 BTC will be able to buy a Lamborghini. He also predicted that by the end of 2022 there will be “one bitcoin per Bugatti”.

However, Bitcoin peaked at just over $69,000 last November, and is expected to reach around $46,000 by the end of 2021. A bearish extension into 2022 sees the flagship cryptocurrency plummet to $17,600 lows in June and now he’s trading below $23,680 after another rejection at the $25,000 level It has been.

Nonetheless, a bullish Powell thinks the year of the Lambo and Bugatti dream come true is over and Bitcoin could rise again. I don’t want to have hope

“I didn’t expect all this crazy crazy in the macro environment” he said, pointing out that this does not mean he is currently bearish.

“I am still very bullish. I bought Bitcoin again for $18,000 and happily put it back. Still very bullish on the long term. As you know, the fundamentals keep improving, so don’t bet on Bitcoin.‘ he explained.

Powell’s comments come at a time when the crypto industry is trying to emerge from the turbulent conditions that have characterized the past few months.