Thursday, September 23

Kraken CEO Committed to Buying Cheap Bitcoin (BTC)

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jesse powell

On Friday, June 4, Jesse Powell, co-founder and CEO of crypto exchange Kraken, shared his latest thoughts on Bitcoin (BTC).

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These comments were made during an interview with Emily Chang on “Bloomberg Technology” a day after Kraken released “a new mobile app for crypto newcomers.” Kraken CEO answered the question about how the view on cryptocurrencies in the USA is:

“Obviously, it’s a very hot market right now and the United States is a huge market. We are really excited to finally bring a retail product to market. Our professional app has been available for a while, but this really rounds out the pack for us in the United States. It allows people to buy directly from their bank account and sell directly to their bank account. This is a great convenience for people.”

“I’m Researching How to Sell My Kidneys”

Chang also asked Powell about his year-end price prediction for Bitcoin. Using humorous language, Powell answered the question:

“I am behind this. You know, a lot of people buy at the bottom. Personally, I am researching how to sell my kidneys at this point. But unfortunately it turned out to be illegal. Still, you know, people are even preparing to enter pasta diets to buy Bitcoin at these levels.”

Powell also stated that the crypto money industry is a roller coaster and those who can cope with it will win. Chang then asked Powell if it was wise for people to invest everything they own in Bitcoin. Kraken CEO answered this question as follows:

“Don’t invest more than you can afford to lose. Don’t gamble with yourself by investing your rent in Bitcoin. So you need to be able to really think about that investment and hold off for five to ten years. People should never bet more than they can afford to lose. Definitely a great investment in the long run from my point of view. But it’s risky in the short run. I would never invest 100 percent of my portfolio in Bitcoin or invest my rental money in Bitcoin.”

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