Kraken Executive:Bitcoin Could Soar to $2,000,000

Kraken exec Dan Held on why he thinks Bitcoin’s time has come

Kraken Executive Says Bitcoin (BTC) Could Soar to $2,000,000 in Massive ‘Super Cycle’ – Here’s Why

“We’ve got a halvening. We’ve got a huge macro backdrop where banks are literally printing a million dollars a second, which happened a few weeks ago with the US, the Fed and the Treasury. And so, there couldn’t be a better moment for Bitcoin than now. I’ve waited eight years to see this.

“We’re seeing a scenario where there’s a literal infinite amount of fiat that will be printed, and there’s only 21 million Bitcoin. It’s hard to predict, but long-term, maybe late 2021, is when a lot of the models predict what we might see in historical cycles. The classic models show us at $80,000 to $300,000 per Bitcoin. We could see that. We could see something a little crazier. I call this the Bitcoin super cycle.

We could see Bitcoin enter a super cycle where everyone’s seen that graph of Bitcoin’s price – that log price graph, and you get a little boom bust, boom bust, boom bust. But what if [BTC] went a level step up on a log chart?

If the world truly fears their money being devalued – every institution, every sovereign wealth fund, every central bank – if they all truly fear that, Bitcoin’s not going to stop at $100,000 or $300,000. It could go up to a million or two.”

https://dailyhodl.com/2020/04/15/kraken-executive-says-bitcoin-btc-could-soar-to-2000000-in-massive-super-cycle-heres-why/

Master Asked on April 15, 2020 in Bitcoin.
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