Kraken CEO Jesse Powell believes that BTC will hit $200,000 in 2021. Insinuating that people will be willing to go on Ramen diets in order to buy more BTC.
In a recent interview with Bloomberg TV, Powell voiced his opinions related to the price of BTC. The Kraken CEO stuck to his previous price targets suggesting that BTC could hit $200,000 by the end of 2021.
Powell commented saying “personally I am googling how to sell my kidneys at this point,” when talking about buying more BTC. He went on to add that “people are getting ready to go on ramen diets to buy BTC at these levels.”
BTC dip nothing to worry about
Powell remains extremely bullish on BTC, calling the recent price action “a little dip.” The price of BTC has dropped over 43% since reaching an all-time high of $64,800.
However Powell is optimistic saying “We’ve seen this over and over, crypto is a rollercoaster. You’ve got to be able to have an iron stomach to tolerate the ride, but the gains are massive for those that can handle it.”
Don’t put your rent money into BTC
While Powell is bullish on BTC price moving forward, the Kraken CEO did reiterate that investors should not gamble their rent on BTC. “People absolutely should not be betting anymore than they can afford to lose, it’s still a very risky investment.”
Powell admits that while investing in BTC is risky, he still believes long term it is “an absolutely fantastic investment.” Powell concludes that he would not be putting 100% of his portfolio into BTC, nor would he put his rent money into BTC.
Square CEO Jack Dorsey has also recently stated his bullishness on BTC. The CEO has previously stated that Square is considering creating a BTC hardware wallet. Dorsey believes that BTC is for everyone, and the hardware wallet will help get BTC into the hands of the masses.
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