Kraken CEO Jesse Powell said that the prevailing global political and economic climate demonstrates the importance of Bitcoin (BTC). In a Bloomberg interview, Powell stated that Bitcoin is on the rise, despite the fact that the leading cryptocurrency did not reach $100,000 in 2021.
“I’m still optimistic about the price. Many of us thought we were going to exceed $100,000 last year, but you know you can’t predict that.”
Powell, the prevailing geopolitical environment offers Bitcoin use-case opportunities as a tool for a transfer of value:
“What we’re seeing is that people continue to use Bitcoin. the emergence and increase of use cases and ongoing causes. I mean, inflation is at an all-time high since the 80s, and that’s just stated inflation. When we go to the supermarket, we all know that inflation is well above 7.5%. Combined with other things, such as restrictions on protests and legitimate fundraising efforts, I think, the use case for Bitcoin is getting stronger. And there is more and more reason to believe that in the long run.”
To take a recent example, we can mention Canadian truckers opting for cryptocurrencies for their fundraising efforts after a government intervention and central crowdfunding tools like GoFundMe turned them down.
As a result, Powell said that Bitcoin “solves real-world problems,” as seen in Canadian truck driver protests.
“You know that Bitcoin is more than price speculation. It solves the problems of people blocked by the government or central fundraising platforms. So you know, I think it’s a vote for freedom.”
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