Kraken CEO Jesse Powell: Don’t Gamble Your Rent on Bitcoin

Jun 6, 2021 0 comments

According to an interview with Bloomberg TV, Kraken CEO Jesse Powell thinks that Bitcoin will hit $200,000 in 2021. He said that people would be willing to go on Ramen diets to buy more BTC.

Further, Powell stated his belief about the BTC value. He predicted that BTC could hit $200,000 by the end of 2021.

Powell noted,

Personally, I am googling how to sell my kidneys at this point. People are getting ready to go on ramen diets to buy bitcoin at these levels.

Also, Powell called the recent price action a slight dip. Despite the recent drop of over 43% since reaching an all-time high of $64,800, he remains bullish on BTC.

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,

Powell added.

However, he emphasized that people should not gamble their rent on BTC. Further, he said that people shouldn’t invest more than they can afford to lose. “It’s still a very risky investment,” he said.

Despite stating that BTC is a high-risk investment, he believes that BTC is a fantastic long-term investment. However, he said he wouldn’t put 100% of his portfolio into bitcoin. Neither would he put his rent money into bitcoin.

Last week, crypto analyst Lark Davis said the all-time high of the cryptocurrency king Bitcoin (BTC) ‘s $64,804 price level is not the final ATH.

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