Bitcoin could hit $1M, states Kraken CEO
Crypto Consultant - Harry
Going beyond the price to buy Bitcoin's (BTC) $100k and even $400k price expectations, Jesse Powell, Chief Executive Officer (CEO) of Kraken's Cryptocurrency Exchange, has provided what many would consider an optimistic outcome for Bitcoin. The CEO claimed during a recent interview with Bloomberg that Bitcoin could hit $1 million in the next 10 years.
Powell argues that gold is not the final battle, since an increasing population of young people is changing grounds on Bitcoin trading to replace fiat currencies. If this occurs, the asset value could climb to "infinity" in the midst of collapsing fiat currencies and a massive migration of investors to Bitcoin as a stable investment. The Kraken CEO stated:
“People see it surpassing gold as a store of value. So, you know, I think a million dollars as a price target within the ten years is very reasonable…”
Interestingly, Powell is not the first one to set quite a fierce price goal for the digital currency, Hal Finney, a former Bitcoin consumer and entrepreneur back in 2011, also said Bitcoin could potentially reach $10 million per coin.
A host of famous buyers have abandoned the yellow metal in preference for Bitcoin. Shark Tank Star Mark Cuban recently argued that gold is a declining asset class to be substituted by Bitcoin and Ethereum.
If you are looking to buy and sell Bitcoin but don’t know where to find a good cryptocurrency broker, you can safely start trading crypto with BC Bitcoin, the UK’s most trusted Bitcoin broker. So, register an account with us today to get started.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing firstname.lastname@example.org from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to email@example.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at firstname.lastname@example.org Kind Regards