Kraken CEO Jesse Powell recently shared his optimism about Satoshi Nakamoto’s cryptocurrency. Anthony Pompliano also forecasts that Bitcoin will reach a price of USD 1 million.
Kraken CEO Jesse Powell does not believe that the price of Bitcoin will reach USD 100,000 or USD 500,000. The executive rather predicts that the pioneering cryptocurrency could be worth up to USD 1 million within the next 10 years.
In an interview with the Bloomberg television channel, Powell recently said that Bitcoin could easily exceed USD 1 million. He noted that this is speculation but explained that it is necessary to think that the cryptocurrency “is going to infinity” when measured in terms of US dollars.
It is a fact that Powell is very optimistic about the main cryptocurrency on the market “in the short term.” Many people consider that Bitcoin surpasses gold as a store of value. For that reason, he believes that “a price of USD 1 million within the next ten years is quite reasonable.”
However, the CEO of the exchange thinks that replacing gold will not be enough for Bitcoin. He says that those who believe in Bitcoin predict that the cryptocurrency may replace all fiat currencies globally.
It is not possible to say whether he is right when he makes such predictions about the pioneering cryptocurrency. However, Glassnode’s Reserve Risk indicator shows that Bitcoin’s rally is still in the early or mid-stage, according to cryptocurrency analyst William Clemente.
Anthony Pompliano also Forecasts that the Main Cryptocurrency Will Reach USD 1 Million
A bullish sentiment in favor of the cryptocurrency market seems to have spread. For example, Anthony Pompliano’s also predicts that Bitcoin will reach a price of USD 1 million after the next halving event.
However, as with Jesse Powell’s forecasts, everything about Bitcoin is pure speculation. No one can predict for sure where the main cryptocurrency on the market is going.
Nvidia Wins a Legal Crypto Battle
Investment management firm Fonder AB accused Nvidia of misrepresenting USD 1 billion in sales of cryptocurrency mining equipment. In the lawsuit, the plaintiffs established that the company misled investors. They argued that Nvidia overstated the demand from gamers as their main sales audience.
However, the judge recently ruled in favor of Nvidia by dismissing Fonder AB’s lawsuit. The court found that the plaintiffs were unable to prove the facts that they claimed.
DeFi Crypto Project Meerkat Finance Is in Trouble
The launch of the DeFi Meerkat Finance project on Binance Smart Chain occurred in recent days. One day later, the project reported that hackers stole USD 31 million from their wallets.
However, many members of the crypto community seem to believe that the developers of the project were the ones who took the money. Since then, Meerkat Finance has kept its Twitter account and website offline, which raises doubts about them.
It is obvious that this directly affects Binance as it “may be the largest fraud project on Binance Smart Chain.” This is the opinion of Twitter user @WuBlockchain, a prominent Chinese crypto blogger specializing in cryptocurrency mining, regulations, and exchanges.
By Alexander Salazar
