Summary List Placement
Bitcoin will eventually be the world’s currency, because “you have to think it’s going to infinity,” Jesse Powell, the CEO of the cryptocurrency exchange Kraken, told Bloomberg on Wednesday.
He said that national currencies were “already showing extreme signs of weakness” and that people would soon start measuring the price of things in bitcoin.
“The true believers will tell you it’s going all the way to the moon, to Mars, and eventually it’ll be the world’s currency,” Powell said.
Kraken, based in San Francisco, is in talks to raise new funding that would double its valuation to over $10 billion, Bloomberg reported in late February.
The price of bitcoin fell on Thursday by 0.4%, to $50,175, but is up 70% year-to-date. The price slipped earlier this week after Gary Gensler, the nominee to lead the Securities and Exchange Commission, said at his confirmation hearing that making sure crypto markets are free of…